The Pensions Regulator names Charles Counsell as new chief executive

The Pensions Regulator (TPR) has appointed the head of the Money Advice Service as its new chief executive.

Charles Counsell, who was formerly executive director of automatic enrolment at TPR, will replace outgoing chief executive Lesley Titcomb in April.

Counsell said: “The work that TPR does is ever more important in a world where millions of people are saving into workplace pensions.

“The pensions landscape is changing. With more people saving into defined contribution than defined benefit pensions, individual savers rather than employers are bearing most of the risk.

“That makes the job of TPR even more important as it ensures that members are protected and those responsible for running schemes are both supported and held accountable. It is such an exciting time to join TPR and I relish the challenge and opportunity to work with a great team to make a real difference for savers.

The regulator came under criticism from the work and pensions committee earlier this year following the collapse of construction giant Carillion in January.

In a report published after a parliamentary inquiry into the company’s failure the committee slammed the regulator’s “feeble” response to the underfunding of the pension scheme and said the “current leadership” was not “equipped to effect change”.

TPR chairman Mark Boyle said: “Lesley Titcomb has done a superb job over the last four years in driving the transformation of TPR.

“We are now a very different organisation and I want to thank her for all that she has achieved.

“Charles takes over a much strengthened position from which to continue this transformation so that TPR is better able to fulfil its statutory objectives and meet the challenges that the pensions sector will face in the future.”

Counsell was awarded an OBE last year for services to workplace pension reform and is also a trustee of South Somerset Citizens Advice.