Neil at a Pension PlayPen

I am sorry that Neil Bull is off sick for some time and hope he can return. His position is now being performed by Julian Lyne who is on the Pension Regulator’s Executive, a serious responsibility. Market Oversight is of critical importance

At yesterday’s DC conference hosted by DG, he appeared in discussion with Nike Tross of FCA and Steve Webb of LCP, it was the highlight of a high-powered day and I was glad to have the chance to question as “devil”.

Julian used to work by where I live in the City and he reminded me of drinks in the Cockpit. I can’t remember much about drinks but I remember Julian – who I have had respect for over time. It is right for him to keep the City in his linked in profile. he is an Essex lad! and Blackfriars is on his way to work!

There were three questions on the agenda of the FCA and TPR, the role of the Trustee, Value for Money and Decumulation. The FCA and TPR shared this and Steve Webb, chairing, kept the focus on where we go after 20 years of protecting members. My impression listening is that VFM involves growth and decumulation involves turning pots to pensions.

It’s good that Julian felt comfortable to express himself with candour after only four weeks. Steve Webb’s quip that Julian should be congratulated for being in his role for that long is the politician in him! We have seen important roles including Chair and Market  open for new faces and I hope that more of them are filled by younger and more rigorous people such as Julian.

People such as David Walmsley (who’s blog I have featured on this blog), Sam Grutchfield (in charge of master trusts regulation), Geoff Cheetham – longtime friend currently a consultant on DC regulation, Chris Clarke and the CEO the policy head Fiona Frobisher.

Here is a team that I hope can take us through the next four years of this parliament and in particular the Bill and Act we will see this year.

It is good to see TPR and FCA on the same panel and for Nike Tross to be so onside with regards converting pots to pensions. It will be critical that both regulators work together. At the Professional Pensions event on Wednesday not one person in the room to hear Guy Opperman’s question “who expects to see the Pension Regulator in place in ten years”. I am ashamed I did not put my hand up, the answer rests with this generation of TPR leaders and the way in which they work with the FCA. For Tross and Lyne to work as well as they did in their session is a positive sign.

However there does need to be more innovation from the Market and more purpose from Market Oversight. I hope that Julian Lyne will bring the leadership which Neil Bull’s state of health has prevented him doing.

This blog wells him well. I will not be drinking with him , but I will be watching out for him as he makes his way from Essex via the City to Brighton, it is a pilgrimage that few have made before but maybe that’s a shame!

And Julian is the first to have a say in reaction to this blog – this after reading it on Linked In before 7.30 am! Top spot!

Julian Lyne