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Boss of new financial guidance body to get £175k salary

Jobs-Ad-Newspaper-Employment-700.pngThe new chief executive of the single financial guidance body can expect a salary of £175,000 a year, according to a job advert posted online.

The advert, posted on the Cabinet Office website says applications will close in mid-May with final interviews held in early July. The date for announcing the successful candidate has not been set.

Today, pensions minister Guy Opperman said he hopes the new body, which will combine the Money Advice Service, The Pensions Advisory Service and Pension Wise, will be operational by winter.

The £175,000 packet will be slightly lower than pay for MAS chief executive Caroline Rookes in 2016/17, when she received £185,000.

The panel assessing applicants is Department for Work and Pensions director Charlotte Clark, Treasury director Gwyneth Nurse, public appointments assessor Peter Spencer and the chair of the single financial guidance body, who is yet to be appointed.

The job advert says the chief executive will initially work on setting up the organisation and will work closely with the chair.

Once the guidance body is launched, the chief executive’s responsibilities include leading the transition from three bodies to one, working on strategy, and building relationships with ministers and the DWP.

Pensions minister holds hope for new guidance body by winter

In the candidate pack, Opperman says the job requires “strong leadership” to establish a new body.

He says: “There are two key challenges for the incoming chief executive. In the short-term, the successful candidate will lead the dissolution of the three existing government-sponsored guidance providers and the transition to a single financial guidance body. In the longer term, the chief executive will lead on the body’s business as usual activity as it delivers on its functions and objectives.”

The government announced in October 2016 it planned to replace the three current guidance organisations with a single body, hoping to achieve efficiency savings.

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Comments

There are 4 comments at the moment, we would love to hear your opinion too.

  1. Lower than I expected, although the revolving door policy probably means that some failure from another industry will take up the position until he/she is found out and leaves under a cloud

  2. £175,000 not a bad gig if you can get it

  3. I’ll bet the candidate has already been earmarked.

    You can guarantee no one who is in the advice sector will even be considered. I’m guessing a career Gravy Train rider, jumping from another highly paid public service role into this.

    Pigs, snout and trough spring to mind. Toot Toot, all aboard!!!!!!

  4. More than all these people
    https://wageindicator.co.uk/main/pay/vip-celebrity-salary/uk-politician-salary

    And a lot more than these:

    The basic annual salary for an MP from 1 April 2018 is £77,379. MPs also receive expenses to cover the costs of running an office, employing staff, having somewhere to live in London and in their constituency, and travelling between Parliament and their constituency. see https://www.parliament.uk/about/mps-and-lords/members/pay-mps/

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