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LV= pensions head moves to Nest

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Former LV= pensions head Ray Chinn has joined Government-backed auto-enrolment Nest.

After 10 years at LV= Chinn left the firm in March.

He has now joined Nest as head of retirement options.

Chinn was also deputy chair of the ILAG Wealth Management Strategy Group until January this year, and was a product development manager at GE Life before joining LV=.

Nest caused controversy in the pensions market last year by unveiling plans to compete in the drawdown space.

However, The Department for Work and Pensions decided against the move after consultation over fears Nest “could unduly distort competition and stifle innovation” because it was taxpayer funded.

Nest chief customer officer Gavin Perera-Betts said in a statement: “Following the outcome of the consultation ‘Nest: Evolving for the future’, it is important that we continue to review the options our members need in later life. Our new head of retirement options will lead on this work, developing our thinking and exploring how the market is developing.”

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