After 30 years at Aegon, Steven Cameron is finally taking the retirement advice he has spent a career giving others.
His final day at the company will be 25 June, although retirement nearly came earlier. Cameron admits he almost stepped away four years ago, but decided against it because he was, in his own words, “enjoying things too much to call a halt then”.
Having become one of the pensions sector’s best-known commentators, Cameron now leaves the industry to embark on his own retirement journey after a career that has spanned major pension reforms, auto-enrolment and significant changes in retirement planning.
Cameron began his career in 1984 with the Life Association of Scotland as an actuarial trainee. After qualifying as an actuary in 1987, he held several technical roles, including group pensions manager and marketing actuary.
His move into the pensions sector came when he joined Aegon on 1 April 1996, where he worked alongside Stewart Ritchie, whom Cameron describes as “one of the original pension gurus”.
He notes: “The role combined analysing Government and regulatory proposals, helping the adviser and EBC community keep up to speed with what was happening, lobbying the Government and regulators for change and commenting on developments to the trade and consumer media.”
Since then, Cameron has moved around departments from finance to strategy, risk and most marketing as pensions director.
He says: “Along the way, I’ve expanded my areas of interest beyond pensions, in particular to regulation and how this affects the adviser community. The key components of analysis, insight, influence and media have been a constant throughout, but the topics have varied hugely, keeping it always interesting.”
Cameron was present for much of the industry’s major changes, including pension reforms such as auto-enrolment, pension freedoms and state pension changes, to the current Pension Schemes Act. His era also included the transition from Defined Benefit to Defined Contribution pensions.
He says: “The adviser community had to step up to the major challenge of the Retail Distribution Review, while the latest developments around targeted support and addressing the advice gap continue to evolve. And our industry has taken on board Treating Customers Fairly and more recently the Consumer Duty.”
Looking back, Cameron considers his biggest achievement to be able to “turn what are often hugely complex pensions or regulatory topics into something more understandable and relatable, whatever the audience.”
He adds: “It’s also been really rewarding to see regulators or the Government taking on board ideas Aegon has put forward in discussions with them and when responding to consultations.”
He emphasised that he has valued the freedom Aegon has given him to do what’s best for our customers. That’s included influencing Government and regulators for the benefit of end consumers, as well as committing time to working with the adviser community and the media to share insights with readers.
He notes: “It’s the many people I’ve worked with and shared ideas with over the years that I’ll miss the most – within Aegon, peers in similar roles in other companies, advisers, EBCs, regulators, Government and of course the media.”
Cameron says he has greatly enjoyed his time in the industry and remains fascinated by the ever-evolving world of financial services and pensions, from government policy and regulation to wider industry trends.
“I truly see the finance media as a huge force for good. I’m a strong advocate for the value of financial advice, and the trade media plays such an important role in keeping the adviser and employee benefit consultant communities up to speed on current and future developments. That in turn helps them do the best for their clients. The role it plays in holding the Government and regulators to account on plans and policy is also of great importance.”
Cameron has had some time off in the run-up to his final day, helping him transition into retirement, which he plans to spend with family and friends and indulging in hobbies such as gardening and reading.
“I’ve been making the most of some extra time off to begin working through the retirement ‘holiday bucket list’. And there will be more of that to come. I’m also looking forward to having more time for family, friends, my garden, my overloaded Kindle, the seafood restaurants of Fife’s ‘East Neuk’ and – of course – the music of Kate Bush.”
