Hymans Robertson, the UK’s leading independent expert in benefits and investment, is pleased to announce that Mike Taylor, Chief Executive of the London Pensions Fund Authority (‘LPFA’ – Notes to Editors), is joining the Supervisory Board of Hymans Robertson’s longevity research firm, Club Vita (Notes to Editors).
Club Vita – a new community for trustees of occupational pension schemes with more than 1,000 pensions in payment – conducts ground-breaking research into pensioner longevity. The Club, which will be launched formally on 12 November 2008, provides members with scheme-specific longevity analysis based on their unique member make-up. Its membership services give trustees genuinely unique insight on managing the financial uncertainties relating to longevity.
Mike Taylor joins the Club Vita board as a non-executive director. As Chief Executive of the LPFA, he is responsible for leading the largest local government scheme provider in London. The LPFA provides fully comprehensive pension administration services to 200,000 members.
Nick Flint, Chief Executive of Club Vita, said: “We are delighted that Mike has agreed to join us in this exciting venture. Mike brings a wealth of knowledge of public sector pensions. The LPFA is widely recognised as one of the country’s leading voices on pensions, and it has won a total of 19 national industry awards since 1994 for the quality of its work.“
Hymans Robertson Partner Douglas Anderson, added: “The Club Vita Board contains some of the UK’s leading experts on pensions and longevity. Mike’s unrivalled expertise in local government pensions will complement the skills of our private sector specialists. I look forward to working with Mike in developing Club Vita’s services.”
Notes to Editors
Club Vita (www.clubvita.co.uk)
Life expectancy is increasing but there is still considerable variation around the calculation of ‘average’ longevity. Pension funds require a large databank which is rich in the diversity of member information and stretches back as far as possible. This insight is what Hymans Robertson is offering, for the first time, to its Club Vita members.
The ‘club’ aspect is key to the concept. Members will be able to pool their longevity experience and see how this compares with other schemes. Club Vita is all about the capture and rigorous analysis of real data on real people. By grouping pensioners together with similar characteristics – e.g. salary before retirement, location and industry – patterns start to emerge. Members will be able to join forces to gain deeper insight on issues affecting longevity.
Club Vita recently announced the appointment of Sarah Harper (Director of the Oxford Institute of Ageing/Professor of Gerontology, University of Oxford) and Peter Thompson (former Chairman of the NAPF) to its Supervisory Board.
Mike Taylor/LPFA
The LPFA manages assets of over £3.5 billion for nearly 80,000 members of the Local Government Pensions Scheme (LGPS). The LPFA also carries out third party pension administration for seven London boroughs and the London Fire and Emergency Planning Authority.
Mike Taylor joined the LPFA in September 2006, having previously (since 1998) held the County Treasurer role at Surrey County Council.
In all, Mike spent 25 years with Surrey, holding a variety of finance posts including responsibility for overall financial planning and education and social services accounting. He has also worked for the City of Westminster and the London boroughs of Southwark and Hammersmith and Fulham.
Mike Taylor is currently a member of the CIPFA Pensions Panel, Chair of the Officers Advisory group to the Local Government Pensions Committee and Chair of the NAPF Local Authority Forum round table. He is a former Honorary Secretary of the Society of County Treasurers.