New PLSA chairman pledges more openness regarding policy proposals

Incoming PLSA Chairman Richard Butcher pledged that he would be open with the industry and road-test policy proposals, in his inaugural speech at the Pensions and Lifetime Savings Association's annual conference in Manchester on Friday.

Mr. Butcher promised that he will consult with at least five members who are not already involved in the PLSA committees when they develop policy proposals.

PLSA's second mission under the new chairman will be to take projects on roadshows around the country to test them. This would include projects such as "Hitting the Target," which was launched to help people assess adequate outcomes in retirement.

Mr. Butcher also said the PLSA will put more policy initiatives online by creating a series of policy webinars, which he dubbed "pension labs."

"We will open up the PLSA," Mr. Butcher said. "I'd like to broaden the PLSA by getting more members in. I'd like to see the players from lifetime (individual savings account industry)."

Mr. Butcher invited PLSA members to contribute to these new initiatives by contacting the association.

"While we know pensions, we don't know enough about converting property into capital or long-term health care, so we need to bring other people to the discussion so we can collectivize the intelligence to produce the policy," Mr. Butcher said.

"We need to look into future to see where the weaknesses are in the infrastructure and what the policy responses might be," he added.