The Pension SuperFund appoints 8 board members amid assessment application

The Pension SuperFund (PSF) has appointed eight non-executive directors (NED)/board members as it applies for assessment from The Pensions Regulator (TPR) to operate as a defined benefit (DB) superfund.

If it is successful in its application, the PSF will become the second DB superfund approved by TPR, after Clara-Pensions completed the assessment process late last year.

DB superfunds that complete the assessment are then able to onboard pension schemes to the new form of DB consolidation vehicle.

Amid its application to TPR, the PSF has appointed eight board members, covering both the corporate and sponsor operational sides of the business.

Aviva UK Life ex-CEO and former ABI Retirement and Savings Committee chair, David Barral, has been appointed, alongside Scottish Building Society and Chartered Banker Institute NED, Sheila Gunn, and Lloyds Banking Group Pension Trustees trustee director, Jocelyn Blackwell.

Former Nest director, Samantha Durrant, former Shell Pensions Trust Investment Committee director and chair, Clive Hopkins, USS ex-head of strategy coordination, Kathryn Graham, DHL Foundation Investment Committee member, Helen Copinger-Symes and former Railpen managing director, investments, Frank Johnson, have also been appointed to the board.

“The new appointments come at a pivotal moment in the development of the PSF as it applies for assessment from TPR in line with its June 2020 guidance,” said the PSF chairman, Chris Hitchen.

“The new directors reflect PSF’s sustained commitment to good governance for the benefit of the pensioner, drawing on the wealth of experience of this exceptional group of pensions market professionals.”

The PSF CEO, Michael Clark, added: “We are absolutely delighted to welcome these highly regarded individuals to their respective board positions at PSF.

“Their track records both within pensions and across the broader financial landscape further strengthens PSF’s already high-class roster of pension professionals and talent to ensure first-class leadership and governance for what is a very exciting time for superfunds.”

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