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Otto Thoresen
has been appointed as chair of the Personal Finance Education Group.
The author of the Thoresen Review of Generic Financial Advice
was elected to the board on 15 October and replaces Ron Sandler
CBE. Thoresen is currently chief executive of AEGON UK.
Thoresen brings considerable financial expertise and experience
to the Group, and was invited by the previous Economic Secretary
to the Treasury, Ed Balls MP, to chair the review on how a national
system of generic financial advice could work in practice, in January
2007.
Recommendations that were set out in the Thoresen Review,
released in March 2008, have led to the Money Guidance programme,
which sees HM Treasury and the Financial Services Authority heading
towards a joint action plan on Financial Capability.
“The work I undertook on behalf of the Treasury in developing
recommendations for Money Guidance was very rewarding,” commented
Thoresen. “We hope Money Guidance will help people become
more confident and knowledgeable about their finances and encourage
them to make the right decisions. But learning how to manage money
needs to start early. By steering pfeg’s work in supporting
teachers to plan and teach financial capability I hope to make a
further contribution to increasing the UK’s financial skills,
knowledge and confidence.”
The Group has been commissioned by the Department of Children, Schools
and Families to lead a group running its My Money programme,
a £11.5million three-year project designed to provide a joined
up approach to financial education across primary and secondary
schools.
“In the current economic climate it’s more important
than ever for people to learn to manage money and it’s great
that both government and the financial services industry are so
keen to ensure our children’s economic wellbeing. I’m
delighted to be joining an organisation at the forefront of this
valuable work and look forward to playing a part in building a sound
financial future,” Thoresen concluded.
- Pensions Age November 2008
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