09 July 08 – Two new appointments to the Pensions Regulator

The Secretary of State for Work and Pensions, James Purnell today announced that he has appointed Tony Brierley and Ashok Gupta as non-executive directors of the Pensions Regulator. Their appointments will take effect from 9th July and will be for four years.

Ashok Gupta has a wide understanding and experience of pensions – he practised as a consulting Actuary before becoming a Finance Director. He is currently an Executive Director of the Pearl Group. 

He has an MBA from the City University Business School, financial expertise and many years of board level experience. He has worked with CGU (now Aviva) and Lloyd’s of London.  In 2007 Mr Gupta was appointed to advise the DWP on the Financial Assistance Scheme.

Tony Brierley brings with him extensive legal knowledge as well as experience at the highest level in a large Private Equity House.  Prior to his retirement at the end of 2007 after 24 years service, he served as a member of the Management Committee, and General Counsel of 3i Group PLC. This experience will add to the Pensions Regulator’s understanding of the interests and role of Private Equity Houses.

He has been involved in high level strategic discussions with regulators the world over for many years, giving him a deep understanding of the challenges faced by the industry today, both in the UK and abroad.

Welcoming the appointments, the Pensions Regulator's chairman David Norgrove said:

"Tony Brierley and Ashok Gupta will bring a wealth of pensions, finance and management experience to the Pensions Regulator and I am delighted that they have been appointed.

"Their business and institutional expertise will be highly valuable as we develop our strategic direction and prepare for our role under the reformed pensions system. It will help us as we deal with the employer compliance regime, including the automatic enrolment of staff into workplace pensions."

Notes for editors

1. The Pensions Regulator was established under the Pensions Act 2004. The regulator’s role is to protect the benefits of members of work-based pension schemes, to promote good administration of schemes, and to reduce the risk of situations arising which may lead to claims for compensation from the Pension Protection Fund.
2. All appointments are made on merit and political activity plays no part in the selection process. However, in accordance with the original Nolan recommendations, there is a requirement for appointees’ political activity (if any declared) to be made public. Neither candidate is politically active.
3. These are four-year appointments, and the remuneration is £10,404 a year (subject to annual review).
4. Continuation of Tony Brierley's appointment is dependent on the Pensions Regulator acquiring a new statutory objective when the Pensions Bill 2007 receives Royal Assent.

 

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