The Association of British Insurers is today announcing the new chair of its Long-Term Savings Committee is Mario Mazzocchi, Chief Operating Officer, Insurance and Wealth at Lloyds Banking Group.
Mario, who has been with Lloyds since 2003 and was Managing Director of Financial Planning and Retirement for more than two years, takes over from outgoing chair, Standard Life CEO Barry O’Dwyer. Mario has been a member of the committee for the past two years and will now also have a seat on the ABI Board.
The Long-term Savings Committee oversees the direction of all the ABI’s policy work in relation to long-term savings and retirement. Current priorities include the next steps for auto-enrolment, the development of a pensions dashboard service for public use and the evolution of the retirement market since the introduction of pension flexibilities.
Yvonne Braun, ABI Director of Long-term Savings and Protection Policy, said:
“I’m delighted to welcome Mario as the next chair of our Long-term Savings Committee. This is a key time for the long-term savings industry as it looks ahead to how it can best serve our ageing population, and what needs to happen to ensure consumers can make the most of the new pension flexibilities.”
Mario Mazzocchi said:
“The ABI’s Long-Term Savings Committee plays an important role in representing the sector to legislators and regulators. The significance of long-term financial planning will continue to grow as the nation comes to grips with how best to fund longer and longer retirements. The pensions industry continues to evolve and modernise and the Committee can help drive this evolution.”