“To lose one director may be regarded as a misfortune; to lose both looks like carelessness.”
Hot on the heels of losing Charles Counsell (OBE), the Pensions Regulator is losing Andrew Warwick-Thompson – its DC guru and Policy Director.
Opinions regarding Andrew Warwick-Thompson differ;
|I SAY||OTHERS SAY|
|My school mate||A public school tosspot|
|TPR’s loss , LGPS’ gain||LGPS’s loss, TPR’s gain|
|Good luck||Piss off|
What we now know is that Andrew Warwick- Thompson is going to be CEO of the Local Government Pension Scheme’s Central Fund and will have £40 bn. of public money under his control. That is about one a half times what is in the pension protection fund and around 25 times what is in NEST. Along with his new boss – Chair- Joanne Seagers, Andrew will become the big cheese for fund managers.
For all his pomposity, Andrew has a style about him, he has a wonderful family and he makes me laugh!
I am quite sure he will be reading these words with a mixture of rage and mirth as he should, he is a man who inspires both!
He has done good things at the Pensions Regulator but there is much he has left undone. The compliance culture in DC – evidenced by the DC code and the MAF, has stopped short of guidance. TPR can tell you that there is choice of workplace pension providers but they cannot guide you in your decision. The employer duties are cold and impersonal, there has been no attempt to encourage a duty of care and this – to no small degree – is a failing I lay at Andrew Warwick-Thompson’s door.
But he is (and here Angie Brookes and I differ) an effective and articulate advocate of best practice and enforcement (within the limited means of tPR and in areas where he is on firm ground). He has not the tool-kit or the personal skill-set to tackle the scammers and tPR’s efforts to supress the activities of the serial offenders have been laughable. His treatment of Angie Brooks was deplorable.
But in his understanding of the dynamics of big pensions (his background) there is no-one better. He will be a loss to Lesley Titcomb and her valedictory words towards him yesterday were- I am sure -sincere.
I reported on Andrew’s recent speech at the Pension Age Conference at the Waldorf, it was masterful and he was magisterial. I do wish him luck, he was a school mate and I genuinely enjoy having a beer with him because he brings everything to the job!
Infuriating, pompous and ridiculously over-confident, he will not be forgotten in Brighton – I genuinely wish him heaven in his new career as I count him a friend!