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What is Pensions Advice Taskforce?

The Pensions Advice Taskforce is an industry wide representative body, the ultimate purpose of which is to help raise standards and enhance consumer protection in respect of complex areas of pension advice. Its initial focus has been on Safeguarded and Defined Benefit Pension Transfers.

Members of the Steering Group are all senior individuals who represent consumer bodies, financial advice firms (both large and small), scheme administrators, pension providers, PI Insurers, compliance consultants, Pension Wise, The Pensions Advisory Service (TPAS) and the Money Advice Service (MAS), all with direct experience of individual and workplace pensions. The Financial Conduct Authority and The Pensions Regulator sit on the Steering Group as independent technical observers.

Why has it been created?

In the aftermath of the British Steel closure, much debate has taken place across the industry about the extent to which stakeholders involved operated in silos rather than in a co-ordinated and timely manner to prevent detriment to scheme members. We have also seen significant contraction in the PI market in terms of excess levels, overall premium levels and in some cases availability of cover. These issues have highlighted a relative lack of industry co-ordinated approaches to market, advice standards and consumer protection, all against a backdrop of increasing complex legislation.

The Pensions Advice Taskforce is a direct response from the Personal Finance Society, bringing together representatives of key stakeholders from across the pension to create a set of principles underpinning good financial adviser behaviour that exceeds minimum requirements and as such more likely to deliver consistently good consumer outcomes.

Membership of the Pensions Taskforce Steering Group

As at 9 April 2019



Philip Brown

Previously Head of Policy Retirement Solutions, LV

Simon Chrystal

CEO, WPS Advisory Limited

Liz Coyle

Compliance Policy Manager, Simply Biz Group

Michelle Cracknell

Previously CEO, The Pension Advisory Service

David Craik

Director Financial Planning, Optima Financial Services/Aberdeen

David Flory

Joint Secretariat, Pensions Advice Taskforce

Nick Flynn


Paul Freeman

Liberty Global Group

Teresa Fritz

Policy Manager, The Money Advice Service

Tim Harries

Head of Risk, Governance and Compliance, WPS Advisory Limited

Jamey Johnson

Chief Officer, Pensionwise

Sue Lewis

Chair, Financial Services Consumer Panel

Tony Miles

Joint Secretariat, Pensions Advice Taskforce

Russell Newell

Chief Underwriting Officer, AmTrust Europe Ltd

Mark Pearson

Director Business Development, Origen Financial Services

Rory Percival

Rory Percival Consulting / PFS Board Member

Keith Richards

CEO Personal Finance Society/MD Engagement of the CII

Margaret Snowdon OBE

Chair, Pension Scams Industry Group (PSIG) and Pensions Administration Standards Association (PASA)

Simon Thomas

Head of Regulatory Policy at Tenet Group

Richard Turnbull

Underwriting Director, Collegiate

Sir Steve Webb

Director of Policy and External Communications, Royal London

Rob Yuille

Head of Retirement Policy at the Association of British Insurers

Julie Sheppard

Policy Lead, The Pension Regulator (Independent technical support)

Sandra Graham

The Financial Conduct Authority (Independent technical support)


Membership of this group was on a personal basis and does not imply or involve in itself any direct or indirect endorsement from any organisation they represent or work for.

Keith Richards, CEO of the Personal Finance Society, commented: 

“The retirement landscape continues to evolve with professional advice playing a crucial role in meeting consumer financial planning needs. The pace of change has led to some areas of concern and unintended consequences for consumers, especially those entering draw-down without having consulted a professional adviser or Pension Wise guidance. The recent high profile British Steel fiasco has also thrown into question adviser conflicts of interest for DB transfers, now impacting PI Insurers confidence. 

It is essential that we introduce initiatives that address these rising areas of concern, via sector agreed ‘good practice’ and a ‘voluntary code’ which consumers and PI Insurers can rely on. Protecting the excellent progress of the profession and the growing financial planning needs of the public is at the heart of the Taskforce’s purpose.”

This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.