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OPRA CEO Hobman to head new UK regulator

UK – The current chief executive of the Occupational Pensions Regulatory Authority, Tony Hobman, has been named as CEO of its successor body the Pensions Regulator.

"I am very pleased to announce the appointment of Tony Hobman as the new chief executive for the Pensions Regulator,” said pensions minister Andrew Smith.

“Tony joined OPRA when it was subject to review and entering a period of reform. Tony, therefore, is in an ideal position to understand the role of the new body and manage the transition between OPRA and the new pro-active Regulator.

“I am confident that he will meet the challenge of establishing and leading this important organisation.”

"Tony brings a wealth of experience and expertise from the financial arena that will be invaluable. The new Regulator will have an essential role to play in providing pensions security and will be crucial to ensuring the success of the Pension Protection Fund – Tony Hobman will be central to making sure we achieve those aims."

"I am delighted to accept this important post,” Hobman said. “Being the first chief executive of the Pensions Regulator will be a demanding role and I am looking forward to setting up the new proactive body.”

Hobman has headed OPRA since April 2002. The DWP said the chair and board members of regulator will be appointed in the coming months.

Separately, Smith has responded to the National Association of Pension Funds comments that the Pensions Bill and the PPF may lead to unintended consequences.

"The Pension Bill is a balanced package that makes it easier and cheaper for firms to run pensions while also ensuring pensions are protected,” Smith said in a statement.

“The PPF is a landmark social reform that will offer security to over 10 million members of final salary pension schemes and help make pensions an attractive proposition for employees and employers alike.

“Together with this protection, we have simplified the tax rules, streamlined regulation and enabled business to save money so that overall there is no burden on business."

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