The Pensions Regulator (TPR) has appointed a senior Treasury official, Richard Knox as its new executive director, strategy, policy & analysis.
Know will start this new role in February and will also sit on the TPR board.
Knox is currently the co-director of the Financial Services Group at HM Treasury and have over 20 years experience in financial services regulation and public policy.
In his Treasury role he recently directed the multi-agency team that delivered the Pensions Investment Review following the 2024 election, collaborating with TPR, the Department of Work & Pensions, the Financial Conduct Authority and the Bank of England.
The review’s recommendations formed the backbone of the Pension Schemes Bill, currently making its way through Parliament. This includes a number of major reforms, such the Value for Money, the scale test and the reserve powers to compel schemes to invest in private markets.
While working at the Treasury he has overseen a number of major initiatives, such as international financial policy, ESG finances, regulatory frameworks for capital markets, prudential banking and Brexit negotiations.
He has also led EU negotiations on legislatives files such as EMIR and MiFID, and as deputy director for security and markets During the financial crisis, Knox contributed to the Asset Protection Scheme for RBS, as well as the Comprehensive Spending Review early in his career.
TPR says this appointment strengthens its board and supports its strategic transformation into a risk-based and outcome-focused regulator.
Over the last 18 months TPR has invested significantly in its digital and data capabilities. It has also bolstered its prudential skill sets by hiring more pensions industry and technical experience, and changed its ways of working to be more proactive. It says these measures should to help ensure that a market of fewer, larger schemes delivers good outcomes for savers.
TPR chief executive Nausicaa Delfas says: “Pensions are at a pivotal moment of change and we are continuing to bring in the talent and expertise we need to raise standards of trusteeship, drive value for money and support savers at retirement. [Knox’s] extensive experience and leadership will be invaluable as we work with the government and the market to shape the future of pensions.”
Knox says: “I am looking forward to helping to deliver on TPR’s mission to protect, enhance, and innovate at this important moment of change in pensions. We have a real opportunity to fix unfinished business in the pension system and make sure pensions provide people with a sustainable income to last throughout their later life.”