Pada's Drake given Labour peerage
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Personal Accounts Delivery Authority acting chair Jeannie Drake will no longer be taking up her position as deputy chair of the National Employment Savings Trust Corporation when it forms on July 5, as she has been appointed a Labour peer.
Number 10 announced recently that former pensions commissioner had been given a Labour peerage.
Pada says Nest chairman, as of next week, Lawrence Churchill will consider the position in the light of the outcome of the Government’s review of auto-enrolment and Nest.
Pada chief executive Tim Jones says: “Although it is sad news for Nest that Jeannie will not be joining us, I am delighted with the news of her appointment to the House of Lords.
“She has made a significant contribution to the UK social policy agenda for many years and no doubt will continue to do so. I would like to thank her for all her work and commitment in her time at Pada.”
Pada announced in March that Drake had been selected for the role of deputy chair. She was set to earn £35,880 annually for one day’s work a week.
The news comes as Pada is due to be wound down next Monday and replaced by Nest Corporation, which will run the scheme. Pada says the transition is going ahead as planned.
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Readers' comments (1)
lol | 1 Jul 2010 4:28 pm
"£35,880 annually for one day’s work a week".
Nice work if you can get it.
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