Former Work and Pensions Committee (WPC) chairman Frank Field, 30% Club founder Dame Helena Morrissey, and Union Pension Services director Bryn Davies have been nominated for life peerages.
Field chaired the WPC from 2015 to 2019, when he was defeated as a Birkenhead Social Justice candidate in the general election, having resigned from the Labour party.
During his time on the WPC, he oversaw a number of pivotal inquiries into defined benefit (DB) scheme regulation, collective defined contribution schemes, cost transparency, and the powers of The Pensions Regulator (TPR).
Meanwhile Morrissey (pictured) is head of personal investing at Legal & General Investment Management, having joined the asset manager in May 2017. She also founded the 30% Club, which campaigns for more gender-balanced company boards, and is chairwoman of the Diversity Project.
She was chairwoman of the Investment Association from 2013 to 2017, and chief executive of Newton Investment Management from 2001 to 2016.
An actuary by profession, Davies founded Union Pension Services in 1989 to support trade union pension schemes, after leaving Bacon and Woodrow, now part of Aon, where he was a research actuary and partner between 1985 and 1989.
He was also director at Pensions and Investment Research Consultants in 1984, chairman of the Independent Pensions Research Group in the 1980s, pensions officer at the Trades Union Congress from 1974 to 1981, and member of the Occupational Pensions Board from 1976 to 1981. He has been a fellow of the Institute and Faculty of Actuaries since 1974.
Field received a non-affiliated peerage nomination, meaning it did not come from a political party, while Morrissey's was nomination was made by prime minister Boris Johnson, and Davies' was offered by former Labour leader, Jeremy Corbyn.
All three are likely to join the House of Lords later this year.
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