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11

The Pensions Regulator announces chief executive

Open-access content 21st November 2014

The Pensions Regulator has appointed Lesley Titcomb as chief executive.

Titcomb, who is chief operating officer with the Financial Conduct Authority, will take up the post from March 2 next year, taking over from interim chief executive Stephen Soper.

She led the work to deliver the transition to the FCA from the Financial Services Authority and recently oversaw the work to bring the regulation of consumer credit from the Office of Fair Trading to the FCA.

TPR chair Mark Boyle said that the appointment would help the body deal with the challenge of expanded responsibilities.

These will include the introduction of a new minimum standards and a charge cap for DC schemes, much greater freedom for members drawing a retirement income, new regulatory responsibilities for public service pension schemes and the roll out of automatic enrolment to small and micro businesses.

Titcomb said the UK was undergoing a pensions revolution.

'With so much fundamental change, it is important that the industry is overseen by a strong, independent pensions regulator, focused on the issues within the sector, that is respected for its technical expertise and authoritative voice,' she said.

 

This article appeared in our November 2014 issue of The Actuary.
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