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Ex-MAS chief Rookes chief moves to Pension SuperFund

Former Money Advice Service chief executive Caroline Rookes has been appointed to the board of trustees at The Pension SuperFund

Ex-MAS chief Rookes chief moves to Pension SuperFund

Former Money Advice Service (MAS) chief executive Caroline Rookes has been appointed to the board of trustees at pension fund consolidator The Pension SuperFund.

Rookes (pictured) left MAS in 2017 ahead of its merger with The Pension Advisory Service to form the Single Financial Guidance Body. 

Since then she has been leading an investigation into communications between the British Steel Pension Scheme (BSPS) and its members after the scheme was closed and replaced with a new one. A number of advice businesses suspended their pension transfer permissions after the Financial Conduct Authority investigated high numbers of transfers out of the BSPS. 

In 2014 Rookes was criticised after she questioned advisers' ethics at a fringe event at the Labour conference.

Commenting on her new appointment, Rookes said: ‘I have spent much of my career looking at how to create the best possible framework to support retirement outcomes in the UK. The Pension SuperFund does just this, providing a new approach to managing defined benefit scheme liabilities, which offers individual pension fund members greater security around their benefits.’ 

Head of pensions at UK Power Networks, Michele Hirons-Wood, will also join the board with almost 30 years in the pensions industry. 

Both Rookes and Hirons-Wood will join chairman of the board Richard Wohanka and Antony Miller representing 2020 Trustees, with the remit of governing and safeguarding member benefits.

 

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