Chair - The Pensions Regulator – Determinations Panel
Recruiter: Hays Executive
Location: Brighton (although it is expected that an increasing number of meetings will continue to be held virtually)
Salary: £900 per day (based on an estimated 40-60 days a year)
Posted: 05 Aug 2020
Closes: 24 Aug 2020
Contract Type: Permanent
The Pensions Regulator (TPR) is the UK regulator of work-based pension schemes. It is empowered by the UK government to regulate and look after the interests of defined benefit (DB) occupational and defined contribution (DC) work-based pension schemes, along with the employer compliance regime for auto-enrolment.
Together with its partners, it is driving up standards of trusteeship and improving savers’ understanding of their situations to create better outcomes in their later life.
The Determinations Panel’s decision making is independent of TPR, operating at arm’s length and reporting to TPR’s Chair. The Panel plays a key role in TPR’s exercise of its statutory functions. It is responsible for making decisions relating to cases where TPR seeks to use certain powers. The Panel has the power to make determinations in relation to a range of activities including scheme funding, imposing fines, appointing, suspending and prohibiting trustees. It has a separately appointed membership and legal support, enabling it to make independent and impartial decisions. It considers all the evidence before it and provides each party with reasonable opportunity to present their case.
This is a compelling time to join the Determinations Panel. Changes to TPR’s scheme funding, information-gathering and anti-avoidance powers has enabled it to be clearer about what it expects from employers in relation to scheme funding, and tougher where a scheme is not getting the funding it needs. Additionally, after successfully authorising existing master trusts in 2018/2019, the Panel will continue to be engaged in a range of new activities such as deciding requests for withdrawal of authorisation and scheme funder exemption requests. These changes to the regulatory setting, combined with a different macro-economic environment, promise an exciting future caseload for the Panel.
The Chair is responsible for leading the Panel in its approach to its role, as well as providing sound advice and guidance to individual members and its administration support team. The Chair will also take a lead in maintaining good relationships with the leaders of TPR, which includes TPR Chair, CEO and Executive Directors in Frontline Regulation.
Other responsibilities include:
- Working with other Panel members to reach fair and reasoned decisions, on all matters referred by regulatory case teams to the Panel for decision on the use of powers.
- Analysing significant and complex data/reports.
- Sound, consistent and robust decision making across all Panel activities
- Maintaining an independent, objective perspective.
- Both provide and receive feedback on the working arrangements within the Pensions Regulator, as they affect the Determinations Panel’s activities.
This is a high profile and demanding post with serious impact. We require an individual with substantial analytical skills as well as demonstrable experience in a senior regulatory, quasi-judicial or judicial decision-making environment. You will also need sound inter-personal skills, capable of being a true mentor to the Panel members (all of whom are very experienced in their own fields) as well as maintaining effective relationships with the leaders of TPR while maintaining the independence of the Panel.
For more information or to apply please visit https://webmicrosites.hays.co.uk/web/tpr-determinations-panel, alternatively contact Andrew Timlin or Simon Winspear at Hays Executive on 020 7259 8743.
Closing Date: 24th August 2020