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Mulroy to step down after seven years with regulator

Ref: PN11-30
Thursday 15 December 2011

The Pensions Regulator’s director for Defined Contribution (DC), Governance & Administration June Mulroy has announced her decision to leave the regulator in the New Year.

June Mulroy said:

“My time at the regulator has been both hugely challenging and enjoyable. I am proud to have played a role in the development of the regulator's approach to the defined benefit (DB) funding and security and, most recently, to DC schemes. But after a long career of full-time working, I’m looking forward to dividing my time between a number of activities including some part-time assignments, more time with friends and family, and a lot more time on Europe’s ski slopes.”

The regulator’s chief executive Bill Galvin said:

“June's contribution to the regulator over the last seven years has been huge. When she first joined the regulator, with only a small team available to her, she established our approach to scheme-specific funding, redeveloped our clearance processes, and handled the very challenging task of making the Pensions Act 2004 operational. These processes were rapidly tested by a period of unprecedented global turmoil and, in my view, proved highly robust.

"More recently, she has led our work on creating a new regulatory approach to DC schemes. The design phase now completed, we will be sharing our thinking with the wider community very soon. This work will help us achieve our regulatory objectives of ensuring retirement savers in DC schemes achieve good outcomes. Throughout the last seven years she has set about her tasks with intelligence and drive and we will all miss her unique set of skills.

“Along with DB and automatic enrolment challenges, the regulator’s DC work is a hugely important part of what we do. As a result, I will take personal responsibility for the immediate progress of our DC work while we look for a longer term replacement for June.”

June Mulroy joined the organisation in 2005 as it transitioned from the Occupational Pensions Regulatory Authority to The Pensions Regulator, newly established by the Pensions Act 2004. She spent six years as the regulator’s director for business delivery, with responsibility for the regulator’s casework teams dealing with the funding of DB pensions, as well as governance and administration issues in DB and DC schemes. Her responsibilities also included the operation of the clearance regime.

Editor's notes

1. The Pensions Regulator is the regulator of work-based pension schemes in the UK. We have objectives to: protect members’ benefits; reduce the risk of calls on the Pension Protection Fund (PPF); and promote good administration and improve understanding of work-based pension schemes. From 2012 we will have the additional objective of maximising employers’ compliance with their duty to automatically enrol staff into a qualifying pension scheme.

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