Hobman steps down to take on financial education role

The Pensions Regulator’s chief executive Tony Hobman is moving on after five years in charge to take up the role of chief executive at the newly-created Consumer Financial Education Body (CFEB).

His last day will be May 14 and the regulator will start recruiting for a new chief executive.

Chairman of The Pensions Regulator David Norgrove said: “I am pleased for Tony that he has won this important new role, but very sorry to lose him. Tony was the regulator’s first chief executive and under his leadership it has become an authoritative force for the protection of pension scheme members and the PPF. A succession of external reviews has praised the regulator for its work and Tony has been central to this achievement.”

Tony Hobman said: "I am very proud to have worked with such a talented team of people in the establishment of an effective and truly risk-based regulator and I know that the organisation will continue to build on its many significant achievements in the years ahead."

1. Tony Hobman was appointed chief executive in April 2005. Prior to this, he was chief executive of the Occupational Pensions Regulatory Authority, from 2002. He has also held a number of senior roles within the financial services arena, including chief executive of ProShare and chief executive of Money Channel plc. He spent his early career at Barclays Bank, holding a number of key roles in marketing, project and change management and customer service.
2. The Pensions Regulator is the regulator of work-based pension schemes in the UK, with objectives to protect members' benefits, promote good administration and reduce the risk of calls on the Pension Protection Fund. Our approach is risk-based focusing on education and enablement, with enforcement where appropriate. We have the ability to:
   • collect information about pension schemes; through scheme returns, under the scheme funding regime and as well as statutory (including whistleblowing) reports;
   • issue notices requiring actions to tackle non-compliance, prohibit trustees who are judged not fit and proper to carry out their duties or appoint independent trustees;
   • direct pension schemes as to how to calculate their liabilities and the contributions required;
   • issue a contribution notice where there is an attempt to avoid liabilities, or a financial support direction where the employer is a service company or insufficiently resourced.
3. The Pensions Regulator succeeded the Occupational Pensions Regulatory Authority (OPRA) in April 2005 as the regulator of work-based pensions in the UK, with wider and more flexible powers under the Pensions Act 2004. It was given further powers and responsibilities under the Pensions Act 2008.

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