Pensions Minister Stephen Timms pledged his support for the pensions pegulator yesterday and said the government and the regulator need to work together to ensure to promote effective regulation of the industry.
Meeting the regulator’s chair, David Norgrove, for the first time yesterday, Timms said the regulator has a function to ensure added security for over 10 million members of final salary schemes, while also establishing confidence in occupational pensions among both employers and employees.
He added: “I have every confidence that the spirit of collaborative working that has enabled this organisation to be put in place will play an important part in helping to restore trust in occupational pensions.”
In response, Norgrove said: “Following the introduction of the Pensions Act 2004, the ‘new kind of regulator’ called for by Alan Pickering in 2002 is now a reality. I hope to work closely with all the organisations represented here today to provide the best possible protection for pension scheme members.”
David Norgrove also publicly confirmed the appointment of three executive directors.
Charlie Massey has been appointed strategic development director, after serving as a senior civil servant at the department for work and pensions. He will take up his post in September.
June Mulroy has been appointed business delivery director, after joining the pensions regulator in February as interim business delivery director.
Mark Eade steps up as business support director, after also joining the departmentas interim business support directorin February.
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