The Pensions Regulator’s chief executive Bill Galvin has announced that he will be leaving his current position at the end of June, to take up a new role as group chief executive of the Universities Superannuation Scheme (USS).

Galvin will commence his new position in August and during his remaining time at the regulator will have no further involvement with any matters related to the regulation of defined benefit (DB) schemes, including regulatory strategy and policy, and discussions with external stakeholders and European regulatory authorities.

The regulator’s chair Michael O’Higgins will directly oversee work on DB schemes, until it finds a successor.

Minister for Pensions Steve Webb said: “I have enjoyed working with Bill Galvin at a time of major reform in the world of pensions. As The Pensions Regulator’s chief executive he helped lay the groundwork for the introduction of automatic enrolment, he has worked with the industry on new standards for defined contribution pensions, as well as seeking to ensure the proper regulation of company pension schemes.”

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