…introducing the next generation of rising stars in the DC pensions and consultancy industry. This month we hear from Jamie Pippard, associate pensions executive at The Law Debenture Group
What’s your current role – and what does it involve?
As an associate pensions executive it’s probably easier to talk about what the job doesn’t involve! I help provide governance services to both corporate sole trustee and full board appointments and no two days are the same. I’m often acting as a scheme secretary taking meeting minutes and ensuring actions are closed between meetings – other days I can be managing complex projects such as GMP equalisation and buy-ins, plus everything in between.
What’s the best and worst thing about your job?
I really enjoy the sense of achievement when a huge project comes together – recently I’ve tackled my first wind-up and it has been a challenging process with a steep learning curve, but the satisfaction you get from successfully coordinating all the advisers and producing a positive outcome for both members and the sponsor is a great feeling.
I wouldn’t say that there is a ‘worst’ part of my job – however, something that is always on my mind is a degree of uncertainty about what my position and the industry as a whole will look like in 10 or 20 years. Policy changes such as scale requirements for master trusts or the movement of DB schemes to buy-in/buy-out will certainly change the pensions landscape, but there is plenty of opportunity too – more rigorous and complex governance requirements mean that our role is more important than ever.
What made you apply for a role in the pensions industry – was it what you expected?
I started my career in pensions administration and had no plans to specifically work in this industry, but knew I wanted to do something related to finance. Like now I was pleasantly surprised by the sheer variety of what the role involved – one day I running complex benefit calculations, the next developing bespoke communications for a pension increase exercise.
What’s the best piece of advice you’ve ever been given?
It’s often said but remains true, that there is no such thing as a stupid question. Pensions can be tricky, but whatever you are unsure about has been asked before and your colleagues and advisors are happy to help. I’ve often found that if you’re sat around a table discussing something, a lot of people will be thinking the same thing but may be hesitant to make the jump and ask.
How can the pensions industry attract and engage more young people?
The industry is heading in the right direction, particularly with firms, including my own, now utilising technology and AI for all sorts of exciting advancements. As an industry we’ll need individuals able to to adapt to these technological change. Firms investing in employee education is also important. When I started in pensions administration the sheer volume of knowledge required was quite daunting. However, the firm put me forward for professional qualifications which helped put me on the right track.
If you were in charge of pension policy what would you change?
Law Debenture did a really good event this year around better understanding your pension and what it means for your future. I had the opportunity to discuss these issues with a range of people from different professional backgrounds, and one thing that came up consistently was the feeling that people were not contributing enough to their own pension pots – so maybe something looking at minimum contributions from both employers and employees would make a difference.
What was your dream job when you were at school?
My mum is a nurse, and I always thought I’d have a crack at being a doctor – but, I’m fairly squeamish and not particularly gifted when it came to science. Pensions suit me much better!
If you would like to see one of the talented younger members of your team, featured in this column, or have a big tech idea that deserves wider coverage, please contact us at editorial.ca@definitearticlemedia.com
