On the go: Defined benefit consolidator the Pension SuperFund has announced the addition of two further trustees to its board.
Caroline Rookes and Michele Hirons-Wood are the third and fourth to join the scheme's board, following chair Richard Wohanka and 2020 Trustees lead trustee Anthony Miller.
Rookes, who was awarded a CBE in 2010, is currently a non-executive trustee of both master trust Nest and the Civil Service Sports Council Superannuation Scheme. She has been chief executive of the Money Advice Service, director of private pensions at the Department for Work and pensions, and director of savings, pensions and share schemes at HM Revenue and Customs.
Hirons-Wood is head of pensions at UK Power Networks, trustee chair of the EPSL Group of the Electricity Supply Pension Scheme, director and chair of the appointments committee for Electricity Pensions Ltd, and deputy chair of EGCL Ltd. Her thirty-year career in pensions began at consultancy Mercer.
Both The Pension SuperFund and rival Clara Pensions are yet to announce their first scheme intake, but maintain that this is imminent.
While superfunds remain a contentious topic for some pensions industry insiders, the companies' efforts to secure respected experts as trustees will likely boost their credibility with ceding trustee boards.
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 DB scheme liabilities which offers individual pension fund members greater security around their benefits."
