Chairman’s Q&A

David Meade

Q: How long have you worked at Emerson?
A: I have worked at Emerson for approaching nine years now.

Q: How long have you been a Trustee of the Plan?
A: Since 2012

Q: Were you a trustee of another plan before?
A: No, however, I worked closely with the Trustee Board at my former employer (Shell) for over ten years, so I am very familiar with the role.

Q: What do you do when you’re not being a Trustee?
A: In my day job, I am responsible for overseeing the investments in Emerson pension plans globally (approaching $12 billion in DB and DC investments), which keeps me quite busy.

Q: What do you wish more people knew about their pension?
A: Pensions are a long-term savings vehicle. The big incentive is that no tax is paid on pension contributions and, if managed in the right way, this can amount to some good savings in the long-term. However, most people spend very little time thinking about their pensions, even though they are often a large part of a person’s overall wealth. I think it’s worth taking a couple of hours taken to understand the value of a personal pension pot and what this could look like at a planned retirement date.

Q: What do you think is the most important thing that members need to do for their retirement?
A: Understand their pension savings to date and what is needed at their planned retirement age. Then put together a savings plan to get there. I think it’s important to both enjoy life now and to save for the future, but there needs to be a balance between the two.

Q: What do you think is the most important piece of legislation in the pensions industry?
A: Automatic enrolment into a workplace pension has meant that more people than ever are saving into a pension, which has to be a good thing.

Q: What would you like to see in pensions in the future?
A: I think it’s important for people to be able to see what they are likely to receive in their personal and government pensions at retirement age. The pensions dashboard has been under discussion for some time and may be a solution to this.

Q: What about your own retirement plans?
A: I am a DB member in Emerson’s U.S. pension plan, as well as a deferred DB member at my former employer. I also actively save and invest in Emerson’s U.S. savings plan.

Q: How do you like to spend your spare time?
A: I am married with three children (two still at home full time) and enjoy reading, fishing and backyard grilling with the family.