Buchanan succeeds Roger Mattingly, board director at PAN Trustees, who has been president since 1 June 2012 and has led the SPC through a period of radical change in the pensions industry
A solicitor and partner in the London pensions team of Hogan Lovells, Buchanan worked in the pensions sector for over 20 year and has sat on the SPC Council for the past eight years, previously having chaired the legislation sub-committee. Buchanan says his priorities for his time in office will be ensuring the success of the recent developments in the pensions industry.
Buchanan says: “The pace of change within the pensions industry in the UK is quite remarkable. The need to develop a workable successor to defined benefit continues to drive innovation and auto-enrolment introduces more and more people to a workplace pension on a daily basis. Moreover, the changes announced by the Chancellor in the 2014 Budget have given an unprecedented level of choice to those at the point of retirement and the repercussions of this are still being felt, and will continue to impact the industry, long after their implementation in April 2015.
“With so many policies at a critical stage in their execution, the work of the SPC is more important than ever. As an organisation we continue to play a major role in the continuing development of the pensions system and as President I will seek to ensure that the SPC offers as much support as it can to the Government, the pensions industry and those with the power to positively contribute to a workable pensions system in the UK.”