The Pension SuperFund is revising the management structure – DB & Derisking

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On the way: The Pension SuperFund has announced the appointment of a new chief executive officer as part of a governance overhaul as it awaits approval from the Pensions Regulator.

Michael Clark, previously Global Head of Pensions at Shell, where he was responsible for the group’s pensions leadership and administration, will assume the role of CEO at PSF, a move that PSF co-founder Luke Webster says “further enhances our leadership and separation dignity of duties”.

Webster said the move would allow him “to represent the interests of funders, while Michael leads the leadership team and works with the trustees to ensure members’ best interests always come first.”

Clark said, “I’m delighted to have joined the Pension SuperFund as it prepares for its place as a key participant in the occupational pension space.”

“It is vital that pension trustees have the best options available and I am confident that the Pension SuperFund is a positive addition to that mix. Being able to improve the prospects for retirees in these uncertain times is hugely important and we look forward to being a robust and long-term steward of their retirement,” he added.

Clara Pensions was the first commercial consolidator to officially enter the market when it received approval from the Pensions Regulator last year, but there’s no news yet on when PSF will start operations.

Chris Hitchen, PSF Chief Executive, said: “As the Pension SuperFund works towards the critical milestone of a positive rating from the Pensions Regulator, it is vital that we have the right governance structure in place to lead PSF’s development as a custodian of pensions control obligations. Michael has a lifetime of experience in the pensions space and will be able to bring that track record and experience to our members, trustees and investors.”

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