In this episode of The Purposeful Strategist, Belden Menkus speaks with Patrick Heath-Lay, CEO of People’s Partnership, about how the organisation behind The People’s Pension has grown into one of the UK’s largest workplace pension providers, and what it takes to build a system that works for millions.

They explore the organisation’s transformation from its roots in the construction industry, the impact of automatic enrolment, and how a not-for-profit, profit-to-member model shapes decision-making at scale.

In their conversation, they discuss:
• What a master trust pension is and how it works in practice.
• How legislative change forced a strategic reinvention of the organisation.
• Balancing commercial discipline with member outcomes in a purpose-driven business.
• Why the pensions system must work for those who don’t actively engage with it.

People’s Partnership: https://peoplespartnership.co.uk/

MenKus & Associates: https://www.menkus.com/

Supported by Norman Broadbent: https://www.normanbroadbent.com/

Belden Menkus is the Managing Director of Menkus & Associates, a senior strategic advisory practice that provides strategic clarity for businesses with a public remit, where scrutiny is high, governance is complex, and the answers aren't obvious. His McKinsey training combined with more than 30 years working at Board and ExCo level gives him both the analytical rigour and the relational experience that complex, high-stakes leadership situations demand.

Belden hosts The Purposeful Strategist, a weekly podcast. It explores how senior leaders bring purpose to life through strategy and reflects the same questions that drive the consulting work.