The Chief Executive of The Pensions Regulator, Lesley Titcomb, will step down from her position at the end of her four year contract in February 2019. Before she departs, she and the executive team will continue to drive forward with the significant programme of change that she brought in to make The Pensions Regulator "clearer, quicker and tougher".
Lesley Titcomb, Chief Execuive of The Pensions Regulator, said:
"This has been a difficult personal decision taken after extensive discussion with family and the Chairman. I love working at TPR and am immensely proud of what we are achieving. But as I turn 57 next month, the end of my contract in February 2019 feels like the appropriate moment to find more time in my life for family, friends, other interests and opportunities. However, in the nine months before my departure, we have a lot more to do. I will be here leading that work with my strong, committed TPR team."
During her tenure, The Pensions Regulator has focused on being more visible and proactively engaged to ensure members of pension schemes that they get the pensions they have been promised. Amongst other things it has:
- Overseen the introduction of auto enrolment and helped over 9 million people start saving for their retirement.
- Secured 7 successful criminal prosecutions for failure to provide information, willful noncompliance with automatic enrolment duties and recklessly providing false or misleading information to TPR.
- Redesigned and begun implementing a new approach to regulation, focusing more proactively on mitigating risks through ongoing oversight, escalating intervention and quicker action across more schemes.
- Set up an authorisation regime for Master Trusts to ensure people can save with confidence.
Mark Boyle, Chairman of the Board of The Pensions Regulator, said:
"On behalf of the Board and the whole organisation, I want to express our appreciation for the superb job Lesley is continuing to do as our Chief Executive. We respect her decision but will be very sorry to lose her. She has been a real catalyst for change, working with energy and drive to get results and make a difference in the way we work. Lesley has strengthened our leadership team and will continue, over the coming months, to implement TPR Future, the change programme she and I instigated together which is already making us a more effective regulator."