Written by Scott Campbell, Cumbernauld Media's Senior Reporter.
Published at 20:24 on 16 July 2015
Gregg McClymont is making the most of his former pensions brief.
CUMBERNAULD’S former Member of Parliament has found himself a new career after losing his seat at the General Election, in May.
Gregg McClymont, the former Labour Member of the House of Commons for Cumbernauld, Kilsyth and Kirkintilloch East has joined Aberdeen Asset Management, as head of retirement savings.
His new job comes after being rejected by local voters in the 2015 General Election, when the SNP’s Stuart McDonald was elected as the area’s MP, with a majority of 14,752.
For Labour's former pensions spokesman, the new job with Aberdeen Asset Management as their head of retirement savings is said to be ‘exciting’.
The former Cumbernauld High School pupil will focus on defined contribution pensions strategy, with a particular emphasis on 'new world' retirement following the introduction of pensions freedom and choice, as part of his new position.
Commenting, McClymont said: "This is a crucial moment for pensions and savings. The end of compulsory annuities [for all but wealthy savers who hit a minimum income requirement] poses a huge public policy challenge.
"Success depends on individuals having access to high quality, easy to understand, income and savings products at a fair price."
He added: "I look forward to helping Aberdeen, with its reputation for effective stewardship, play its part in helping savers succeed in this new world of pensions flexibilities".
Global head of distribution, John Brett added: "We are delighted that Gregg has agreed to join Aberdeen given his expertise in pensions.
"His appointment is intended strengthen further our commitment to meeting the retirement needs of investors."
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