The Pensions Regulator (TPR) has announced the appointment of Charles Counsell as its new Chief Executive. Charles will lead TPR as it implements its clearer, quicker and tougher approach to pension regulation to make sure that over 30 million members of workplace pension scheme members are properly protected.
Charles is currently Chief Executive of the Money Advice Service, ensuring millions of people have access to free, independent financial information and guidance. He was previously Executive Director of Automatic Enrolment at TPR, designing and leading the delivery of the highly successful AE programme which has resulted in nearly ten million more people saving into a workplace pension.
Mark Boyle, Chairman of TPR said:
“I am delighted that we have appointed someone of Charles Counsell’s calibre to drive forward our significant change programme. Charles was the architect of the Automatic Enrolment programme which has helped shape our approach to the changes we are now implementing to become a clearer, quicker and tougher regulator. I know that Charles will lead the organisation with his trademark energy, determination and passion. Charles is a delivery-focused leader who gets the job done which is exactly what we need at this crucial time.
“Lesley Titcomb has done a superb job over the last four years in driving the transformation of TPR. We are now a very different organisation and I want to thank her for all that she has achieved. Charles takes over a much strengthened position from which to continue this transformation so that TPR is better able to fulfil its statutory objectives and meet the challenges that the pensions sector will face in the future.”
Charles Counsell said:
“The work that TPR does is ever more important in a world where millions more people are saving into workplace pensions. The pensions landscape is changing. With more people saving into defined contribution than defined benefit pensions, individual savers rather than employers are bearing most of the risk. That makes the job of TPR even more important as it ensures that members are protected and those responsible for running schemes are both supported and held accountable. It is such an exciting time to join TPR and I relish the challenge and opportunity to work with a great team to make a real difference for savers.”
Minister for Pensions and Financial Inclusion, Guy Opperman said:
“The Pensions Regulator has an increasingly important role to play in ensuring schemes are operating responsibly to protect savers’ investments, with almost 10 million more people brought into a workplace pension by this Government’s reforms.
“Charles Counsell has outstanding pedigree and a wealth of experience, and I’m looking forwarding to working with him.”
Charles Counsell will join TPR at the start of April following the departure of Lesley Titcomb at the conclusion of her term as Chief Executive at the end of February.
- Charles was appointed as Chief Executive of the Money Advice Service in June 2017. He spent six years prior to this as Executive Director of Automatic Enrolment at the Pensions Regulator (TPR) where he was responsible for the successful UK roll-out of this programme, working alongside DWP. In his time at TPR, the automatic enrolment programme led to more than 7.5 million workers newly saving into a workplace pension from over 500,000 employers. Charles was awarded an OBE in 2017 for services to workplace pension reform. He has spent much of his career setting up and leading major change programmes in both the private and public sector in the UK and overseas. Charles is also a Trustee of South Somerset Citizens Advice.
- TPR is the regulator of work-based pension schemes in the UK. Our statutory objectives are: to protect members’ benefits; to reduce the risk of calls on the Pension Protection Fund (PPF); to promote, and to improve understanding of, the good administration of work-based pension schemes; to maximise employer compliance with automatic enrolment duties; and to minimise any adverse impact on the sustainable growth of an employer (in relation to the exercise of TPR’s functions under Part 3 of the Pensions Act 2004 only).
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