John Hutton joined Redington as an adviser to help the firm extend beyond its defined benefit expertise and into defined contribution, confirmed a spokesman for the investment consulting firm.
Mr. Hutton, the former secretary of state for the Department for Work & Pensions from 2005 to 2007, will work with the firm’s consultants and asset and liability modelling team to advise on the design, development and delivery of defined contribution pensions solutions, according to the spokesman. The role is part-time.
He will also help to grow RedStart, the consultancy’s charitable financial education programme, promoting financial literacy and planning for young people.
Mr. Hutton led a commission to investigate possible short- and long-term reforms to the U.K. pension system, publishing a report in March 2011. As a life peer in the House of Lords, he was given the title of Baron Hutton of Furness.
“We are thrilled that Lord Hutton is joining us. We will be working closely together to answer the question, ‘How can we improve DC pensions?’” said Robert Gardner and Dawid Konotey-Ahulu, co-CEOs and co-founders of Redington, in a news release.
