It was recently announced that Lesley Titcomb, chief executive of the Pensions Regulator (tPR), will step down when her contract comes to an end next February. Ms Titcomb has been in her role since March 2015 and has played a pivotal role in procuring £363m from former BHS owner Sir Philip Green for the company’s pension scheme, as well as securing more than £500m from Tata Steel UK to set up its new scheme. However, opinions differ on her success.
Stuart Price, Partner and Actuary at Quantum, looks back at Ms Titcomb’s time at the top. Stuart says:
“Lesley Titcomb has certainly had a lot to deal with, with Tata Steel, BHS and Carillion just a few of the big challenges she’s faced. All of these cases to some extent entered the Pension Protection Fund (PPF) and are ultimately draining resources from other schemes and their sponsors, and it’s easy to blame a lack of direction at the top of tPR for this.
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