David Fairs, The Pensions Regulator’s (TPR) executive director of regulatory policy, analysis and advice, has announced he will leave his post this year to pursue new challenges.
Fairs, who joined TPR in July 2018, has overseen the introduction of several major policy initiatives throughout a time of significant change and challenge for the pensions industry.
They include new powers under the Pension Schemes Act 2021, including collective defined contribution (CDC) and pensions dashboards, and the development of TPR’s new defined benefit (DB) funding code, currently out for consultation.
Fairs has also worked with the Financial Conduct Authority (FCA) and Department for Work and Pensions (DWP) to define value for money (VfM) in DC pensions, leading to a proposed new VfM framework due for consultation later this year.
He has also overseen TPR’s pool of professional advisers, including actuaries, lawyers, investment consultants and business analysists.
He has championed TPR’s work on climate change and through robust leadership has helped the regulator and the wider industry take vital strides to help embed equality, diversity and inclusion.
Charles Counsell, TPR’s chief executive officer, said: “David has been a highly valued member of our executive team and board for more than four years, during which time he has shown exceptional leadership internally and amongst our key stakeholders.
“He has played a pivotal role in implementing ground-breaking policies that are already helping to better protect savers and drive stronger retirement outcomes. His knowledge and experience will be sorely missed but we all wish him well as he moves on to new challenges, in which I am sure he will continue to make a real difference.”
Fairs said: “I am very proud of the work that the team at TPR have driven forward in my four and a half years with the organisation. From the Pension Schemes Act to climate legislation, to publishing the DB funding code consultation, I’ve had the opportunity to work with committed, passionate people who really care about the work they do to protect savers.
“A new year is a time for change, and is the right time for me to pursue new challenges. I wish the team at TPR all the best for the future – the work they do is so important and I know that they will continue with the drive and determination I’ve seen in my time with them.”
Fairs will leave TPR in mid-March 2023. An interim director of regulatory policy, analysis and advice will be appointed.