Interview with Keith Bedell-Pearce
07 March 2025
We recently spoke to Keith Bedell-Pearce, Chairman of the Trustee, about his role and his vision for the Scheme.
Q: Could you tell us a little about yourself and your background?
A: Before I retired in 2002, I was a main board director of Prudential plc. My 30-year career at Prudential spanned being a computer systems designer, the company's in-house solicitor, a director of its investment management business and running operating businesses both in the UK and abroad. Since then, I’ve been involved with various chairman and non-executive director positions with organisations such as the Student Loans Company, Directgov (now Gov.uk), and F&C Asset Management plc.
I’ve been Chairman of the Trustee since March 2020 and I very much enjoy what I do.
Q: What does being Chairman of the Trustee Company involve?
A: The role of the Trustee Company, Prudential Staff Pensions Ltd, is to manage the Scheme in the best interests of its members within the Rules of the Trust Deed. The Trustee Directors work with advisers who assist with the running of the Scheme, covering activities like investment management, administration, and legal advice. The bulk of this work takes place in the Board’s committees and working parties.
As Chairman, I lead the Trustee Board in making important decisions that can sometimes be at a Scheme-wide level, such as setting our investment strategy, but can sometimes be about the circumstances of individual members, such as the distribution of death benefits when a member dies.
Q: How would you assess the position of the DC Section as you look to the future?
A: The DC Section is a growing, thriving part of the Scheme. It is likely we will be seeing some significant changes in the DC arena in the coming years, ranging from the implementation of Pensions Dashboards to the outcomes of proposed Government actions set out in the November 2024 Interim Report of the Pensions Investment Review.
The Board is well placed to monitor and plan for these changes with the support of our in-house Pensions Team and our external advisers. We will keep members of the DC Section informed on our website and by email on these developments.
Q: What would you recommend members to focus on regarding their own pension pot?
A: In short, maximising your contributions as much as you can as soon as you can. This is the best way to give your money time to grow.
Q: What are some of your interests away from pensions?
A: My two primary interests are Warwick University and collecting art. I have had a continuing relationship with Warwick for more than 55 years, dating back to when I got my MSc degree at the then fledgeling Warwick Business School. I am still there as an Honorary Professor. I joined the University Council in 2009 and became Treasurer in 2011 on a temporary basis which turned out to be for 12 years. For many years I have had a particular interest in social inclusion in higher education, and Warwick has an excellent record in this.
I started collecting art more than 40 years ago. To my great pleasure, when I joined the Prudential Board one of my roles was the management of the Prudential art collection. This included disposals and acquisitions. I still visit some of those acquisitions when I am in 10 Fenchurch Avenue.