Labour’s Gregg McClymont joins Aberdeen Asset Management

Aberdeen Asset Management is appointing former shadow pensions minister Gregg McClymont to a newly-created role of head of retirement savings.

McClymont’s role encompasses defined contribution pensions strategy, research and implementation – with an emphasis on retirement savings.

McClymont was Labour MP for Cumbernauld, Kilsyth and Kirkintilloch East between 2010 and 2015, but lost his seat in the 2015 general election.

In his period in office he fought for greater transparency around investment management charges.

McClymont says: “Following a fascinating and hectic five years in politics and pensions, I’m delighted to be joining a great Scottish company with global reach and reputation.

“This is a crucial moment for pensions and savings. The end of compulsory annuities poses a huge public policy challenge. Success depends on individuals having access to high quality, easy to understand, income and savings products at a fair price.

“I look forward to helping Aberdeen, with its reputation for effective stewardship, play its part in helping savers succeed in this new world of pensions flexibilities.”

Aberdeen global head of distribution John Brett says: “We are delighted that Gregg has agreed to join Aberdeen given his expertise in pensions. His appointment is intended strengthen further our commitment to meeting the retirement needs of investors.”