After 27 years at Old Mutual Wealth Adrian Walker is set to retire with a parting missive at political tinkering of pension rules.
Walker started at Old Mutual Wealth in October 1989 and has been responsible for the development of the company’s retirement proposition for advisers and clients.
In a statement Walker reflected on his time in the industry and expressed concern at the "huge quantity" of regulatory change he had seen.
"The continual tinkering with rules under the name of pension simplification has resulted in politicians breaking long term commitments regarding the future structure of pension saving, leaving customers and advisers confused." he said.
"We need a time of stability and I would like to see fewer changes for an extended period of time."
His immediate plans are a “period of travel and golf" and then a return to the industry.
"No one really retires anymore," he said. "I doubt I’ll be an exception to the trend and that I’ll still be contributing to the industry over the next few years.”
The new head of retirement proposition marketing is Ian Browne who joins Old Mutual Wealth from Axa Life Invest where he was the group’s UK propositions manager and pension and regulatory specialist.
Before Axa he worked as a product proposition manager for Sun Life Financial Canada and a technical support consultant for Ecclesiastical Insurance Group.
Browne said: “Old Mutual Wealth is known for its great work with the adviser community. I look forward to working with Jon Greer and the pensions specialists across the business to contribute and continue that effort.”
Henry Tapper, a director at First Actuarial, said he wished Mr Walker well, but took issue with his view on pension legislation.
"You can either change things in a block and have revolution or you can have things change gradually," he said.
"Five years ago we never even knew there was a problem with transaction costs and charges. Taxation is changing because the way we work is different. Some pension systems are massively unfair, so I am afraid the world does not stand still for pensions."
