Antonia Balaam is the new Head of Mastertrust at Aegon and I’m pleased for Antonia and Aegon
She’s a bright actuary , learning her art at WTW and Aon and firing things up at First Actuarial when I was there. When she worked at First Actuarial , she ran their DC department and was responsible for providing the Value For Money engine run by Pension PlayPen.
I like Antonia , I like her a lot!
Now she’s going to manage Aegon’s offering which in all honesty is the BlackRock master trust with a cheerful colour scheme.
I hope that Aegon meet the Scale challenge and create a product that competes with Lifestyle, People, Nest and in particular Legal & General (which is the only commercial master trust over £30bn).
I don’t think that Aegon will buy its way to the top by way of a silly AMC offered for new business. I suspect Aegon may have the money to buy up some failing rivals. But there is a third way which I hope Antonia takes a look at.
Wouldn’t it be nice if DC savings schemes like Aegon’s Master Trust, offered a DB pension?
I am being a little old fashioned in stating that in my early days as a workplace saver, I invested with Scottish Equitable and was promised a Scottish Equitable pension , back in the day when DC pensions offered annuities. I consolidated that personal pension some time ago but I’ve always wondered, since Aegon took Scottish Equitable was bought by Aegon, whether I’d have better sticking with it.
Here’s your chance to prove me wrong Antonia.
Why don’t you take a look at the options that might be emerging for master trusts such as your. You do have in Ian Pittaway a man with a DB background and I’d love to see you both again!
If you used the Pension PlayPen to choose your workplace pension, with Antonia luck!