The Pension Regulator (TPR) – Non-Executive Directors

Sep 232021

Non-Executive Directors - The Pension Regulator (TPR)

Business / Organisation Name: Department for Work and Pensions
Business / Organisation Sector: Public
Business / Organisation Type: Government
Role Title: Non-Executive Director
Remuneration: Paid

Role Description

DWP is seeking 4 Non-Executive Directors for The Pension Regulator.

The Pensions Regulator (TPR) is the independent UK regulator of work-based pension schemes. It is an arms-length public body sponsored by the Department for Work and Pensions (DWP). TPR works with trustees, employers, and business advisers of occupational pension schemes in the private and public sectors, to help them understand their legal duties and the standards it expects.

TPR also works with employers and their advisers to ensure compliance with Automatic Enrolment duties.

TPR’s statutory objectives are set out in the Pensions Act 2004. These are:

to protect the benefits of members of occupational pension schemes;
to protect the benefits of members of personal pension schemes where direct payment arrangements are in place;
to reduce the risk of situations arising which may lead to compensation being payable from the Pension Protection Fund (PPF);
in relation to its functions for DB scheme funding only, to minimise any adverse impact on the sustainable growth of an employer;
to maximise employer compliance with employer duties and the employment safeguards introduced by the Pensions Act 2008;
to promote, and to improve understanding of, the good administration of work-based pension schemes.

TPR works within the policy and resource framework determined by the Secretary of State; its Corporate Plan and its financial resources and headcount budget is agreed with the DWP.

TPR is based in Brighton, United Kingdom, where its Board meetings are generally held. More information can be obtained from the TPR website and from the TPR Annual Report and Accounts.

The Board of TPR meets around eight times a year and currently comprises: the Chair, five Non-Executive Directors, the Chief Executive and four Executive Directors. The Board oversees TPR’s strategic and policy direction, ensures that TPR is properly run as a public body having proper regard to its statutory objectives and has effective internal controls. It also ensures TPR complies with statutory and administrative requirements for value for money and the use of public funds.

The role of a Non-Executive Director

Each Non-Executive Director will:

contribute to the Pensions Regulator Board meetings and discussions, drawing on their breadth of expertise and ability;
contribute to and review the strategic direction of TPR;
scrutinise the performance of the Chief Executive in securing that TPR’s functions are exercised efficiently and effectively;
monitor the extent to which TPR is meeting its statutory objectives, Key Performance Indicators and other targets;
ensure effective reporting of activities to the Secretary of State in TPR’s annual report;
evaluate the effectiveness of the TPR’s internal financial controls;
contribute to setting the remuneration of the Chief Executive;
act as a confidant, mentor and wise counsel to the Chair, balancing a challenging approach with being supportive;
contribute through ad hoc involvement with the executive team and other TPR staff on specific areas of interest/priority;
where appropriate, represent TPR externally, and help it build relationships with key stakeholders;
contribute their experience to guide the development of the Pensions Regulator in a way that is inclusive, supportive, collegiate and adds value; and
demonstrate a commitment to the Seven Principles of Public Life

Information Webinar

There will be an information webinar hosted by TPR on 30th September 2021 from 13:00 -14:00 to provide prospective candidates with information about TPR and the requirements of the role. It will include information on why everyone at TPR is passionate about delivering better outcomes for pensions savers, the diverse culture of TPR, tips for completing the CV and covering letter, and what candidates can expect if they are selected for interview. There will also be a Q&A session with the presenters who will include TPR Chair, Sarah Smart and Non-Executive Director Katie Kapernaros.

If you would like to attend the webinar, please register your interest by emailing [email protected] by close of business on Monday 27th September 2021. If you are unable to attend you will be able to see a recording of the session on the TPR website shortly after 30th September 2021.

Location: Brighton (Board meetings have recently followed a remote access model, and in future are likely to be a mixture of in person and remote access meetings.)
Remuneration: Non-Executive Directors (£17,992) Non-Executive Director /Chair of the Audit and Risk Assurance Committee (£21006)
Time Requirements: Around 26 days a year for Non-Executive Directors and around 30 days a year for Non-Executive Director/Chair of the Audit and Risk Assurance Committee