David Fairs to leave TPR to pursue new challenges

TPR’s Executive Director of Regulatory Policy, Analysis and Advice, David Fairs, has announced he will be leaving the role in 2023 to pursue new challenges.

David, 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 and pensions dashboards, and the development of TPR’s new defined benefit (DB) funding code, currently out for consultation. David has also worked with the Financial Conduct Authority and Department for Work and Pensions to define value for money (VfM) in defined contribution 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 TPR and the wider industry take vital strides to help embed equality, diversity and inclusion.

TPR Chief Executive Charles Counsell 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.”

David 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.”

David will leave TPR in mid-March 2023. An interim Director of Regulatory Policy, Analysis and Advice will be appointed.

Note to editors

  1. David was appointed Executive Director of Regulatory Policy, Analysis and Advice on 2 July 2018, having previously been a senior partner in KPMG’s Pension Practice. Read his full biography.
  2. A photo of David is available to download.
  3. TPR is the regulator of work-based pension schemes in the UK. Our statutory objectives are: to protect members’ benefits; to reduce the risk of calls on the Pension Protection Fund (PPF); to promote, and to improve understanding of, the good administration of work-based pension schemes; to maximise employer compliance with automatic enrolment duties; and to minimise any adverse impact on the sustainable growth of an employer (in relation to the exercise of TPR’s functions under Part 3 of the Pensions Act 2004 only)