The Pensions Regulator chief executive Bill Galvin is leaving in June to become chief executive of the Universities Superannuation Scheme.
Galvin will have no further involvement in defined benefit regulation during his remaining time at the regulator to avoid any conflict of interest. He will continue to lead TPR’s work on defined contribution regulation.
TPR says it will begin recruiting for Galvin’s successor “shortly” and will make an appointment “as soon as is practicable”.
Galvin says: “Leaving the regulator will be very hard. I leave behind a hugely capable and committed team, which has a clear vision on how to support this vital industry.
“It has been a privilege to represent their outstanding work to the outside world. I wish them all very well.”
Pensions minister Steve Webb says: “I have enjoyed working with Bill Galvin at a time of major reform in the world of pensions.
“As The Pensions Regulator’s chief executive he helped lay the groundwork for the introduction of automatic enrolment, he has worked with the industry on new standards for defined contribution pensions, as well as seeking to ensure the proper regulation of company pension schemes.”
Radcliffe & Newlands chartered financial planner Mel Kenny says: “Losing the head of The Pensions Regulator just as auto-enrolment is about to get serious is clearly not ideal. Whoever comes in to replace him will need to hit the ground running.”