Spence & Partners director Hugh Nolan has been elected the new president of the Society of Pension Professionals.
Nolan’s presidency takes effect from 1 June 2016, succeeding Duncan Buchanan, a partner in the London pensions team of Hogan Lovells, who has been President since 1 June 2014.
Nolan has been a director at Spence & Partners since April 2016, before which he was chief actuary at JLT Employee Benefits. Hugh began his career in pensions in 1989 and has worked for several large consulting firms, including Mercer, Aon and HSBC Actuaries. He is also chair of the DC committee of the Association of Consulting Actuaries (ACA).
SPP president-elect Hugh Nolan says: “I would like to offer my sincere thanks to outgoing President Duncan Buchanan for his outstanding contribution, hard work and commitment to the society over the past two years. He has been a steady hand at such a time of change in the retirement saving industry and has made sure that the SPP has remained at the heart of the debate.
“As an industry it is imperative that we make the current environment for retirement saving as successful as possible, offering practical expertise to help policy makers shape the future environment. In this regard, I will be looking to build on the valuable contribution that Duncan has made during his Presidency.
“Over the past years the pensions industry has undergone a period of remarkable change. Auto-enrolment and Freedom and Choice have been successful so far, but the journey continues. There are pressing issues left to be resolved, such as the need to encourage adequate retirement saving, the unsustainability of DB pensions, the advice gap for those with small pension funds, pension frauds prevention, financial education and the list goes on.”