The Pensions Regulator

Executive Directors appointed to Pensions Regulator

Ref: PN05-16
7 June 2005

The Pensions Regulator’s executive directors were confirmed today. David Norgrove, chair of the Pensions Regulator, announced the appointments following a process of open competition for the roles.

The three new executive directors are:

Charlie Massey – strategic development director;
June Mulroy – business delivery director; and
Mark Eade – business support director.

David Norgrove said:

“Between them, the new directors bring a wealth of strategic management and finance expertise from across the public and private sectors. I am confident they will ensure that the Pensions Regulator meets its objectives, working closely with trustees, employers and advisers to protect members' benefits and promote high standards of scheme administration.”

Commenting on the appointments, chief executive Tony Hobman said:

“I am delighted to welcome the new directors to the Pensions Regulator executive team and look forward to working with them to drive the organisation forward. Together we will implement a regulatory environment which is risk-focused, targeted, proportionate and accountable, in keeping with the principles of good regulation.”

The appointments take effect from 1 June 2005, except for Charlie Massey who will take up his appointment on secondment from the Department for Work and Pensions from 1 September 2005.

David Blunkett, Secretary of State at the Department for Work and Pensions has confirmed the appointment of the three directors to the board of the Pensions Regulator.

Editor's notes

• The Regulator is responsible for appointing its staff. Its staffing structure has been agreed with the Department for Work and Pensions, and includes three executive director posts. The posts were open to public competition.
• The Pensions Act 2004 requires the Secretary of State, in consultation with the Pensions Regulator chair, to appoint at least two board members from the staff of the regulator. The Secretary of State has appointed the three executive directors as members of the regulator’s board.
• Brief background details of the successful candidates:
• • Charlie Massey –strategic development director : Charlie Massey is currently a senior civil servant in the Department for Work and Pensions, responsible for heading up the division that designed the Pension Protection Fund. Charlie has previously worked in the Prime Minister's Strategy Unit, HM Treasury, and in various roles in the Department of Social Security. Charlie will take over his new role from the current interim strategic development director on 1 September 2005.
  • June Mulroy – business delivery director : A qualified chartered accountant, June Mulroy has wide ranging experience in the public and private sector including roles as finance director, management consultant, and corporate treasurer. She was Head of Strategy and Information for Midland Bank, and most recently interim Chief Accountant for UNESCO. June joined the Pensions Regulator in February 2005 as interim business delivery director.
  • Mark Eade – business support director : Prior to his new appointment, qualified chartered management accountant Mark Eade has had over 20 years experience in the public and private sectors as a finance director and in corporate support roles . In 2004 he set up the corporate infrastructure for the independent regulator of NHS Foundation Trusts. Mark joined the Pensions Regulator as interim business support director in February 2005.
• The Pensions Regulator was established on 6 April 2005 as the new regulator of work-based pensions in the UK, with wider and more flexible powers under the Pensions Act 2004. It has replaced Opra which no longer exists.
• The Pensions Act 2004 gives the Pensions Regulator a set of specific objectives:
• to protect the benefits of members of work-based pension schemes;
• to promote good administration of work-based pension schemes; and
• to reduce the risk of situations arising that may lead to claims for compensation from the Pension Protection Fund.
• The new powers of the Pensions Regulator include the ability to:
• • collect more detailed scheme information;
  • impose a statutory obligation on ‘whistleblowers’ to report suspected breaches of the legislation to the regulator;
  • issue improvement notices and third party notices, enabling the regulator to ensure problems are put right;
  • freeze a scheme that is at risk, while the regulator investigates; and
  • prohibit trustees who are judged not fit and proper to carry out their duties.