Richard Knox appointed as Executive Director, Strategy, Policy and Analysis

Ref: PN26-02

Thursday 15 January 2026 The Pensions Regulator (TPR) is strengthening its senior team with the appointment of Richard Knox as its Executive Director, Strategy, Policy and Analysis, and as a member of the TPR Board, effective February 2026. This appointment marks a significant step in TPR’s transformation to meet the challenges of a rapidly evolving pensions landscape.

Richard Knox brings over two decades of experience in financial services regulation and public policy. At HM Treasury, he currently serves as Co-Director of the Financial Services Group, where he has overseen international financial services policy, Brexit negotiations, global trade agreements, and regulatory frameworks for capital markets, environmental, social and governance finance, and prudential banking.

Previously, Richard led EU negotiations on major legislative files such as European Market Infrastructure Regulation (EMIR) and Markets in Financial Instruments Directive (MiFID) as Deputy Director for Securities and Markets. During the financial crisis, Richard contributed to the Asset Protection Scheme for RBS, as well as the Comprehensive Spending Review early in his career.

Most recently, Richard directed the multi-agency team that delivered the Pensions Investment Review following the 2024 election, collaborating across TPR, Department for Work and Pensions, Financial Conduct Authority, and the Bank of England. The Review’s recommendations formed the backbone of the Pension Schemes Bill which seeks to make sure the pension system both boosts member outcomes but also drives growth in the UK economy.

Nausicaa Delfas, Chief Executive of TPR, commented:

“Pensions are at a pivotal moment of change, and we are continuing to bring in the talent and expertise we need to raise standards of trusteeship, drive value for money and support savers at retirement. Richard’s extensive experience and leadership will be invaluable as we work with the government and the market to shape the future of pensions.”

This appointment supports TPR’s strategic transformation into a risk-based and outcome-focused regulator. Over the last two years it has invested significantly in its digital and data capabilities, bolstered its prudential skillsets by hiring more pensions industry and technical experience, and changed its ways of working to be more proactive and forward-looking to help make sure that a market of fewer, larger schemes delivers good outcomes for savers.

Richard Knox said: “I am looking forward to helping to deliver on TPR’s mission to protect, enhance, and innovate at this important moment of change in pensions. We have a real opportunity to fix unfinished business in the pension system and make sure pensions provide people with a sustainable income to last throughout their later life.”

Notes to editors

TPR is the regulator of work-based pension schemes in the UK. Its statutory objectives are to:

• protect members’ benefits
• reduce the risk of calls on the Pension Protection Fund (PPF)
• promote, and to improve understanding of, the good administration of work-based pension schemes
• maximise employer compliance with automatic enrolment duties
• minimise any adverse impact on the sustainable growth of an employer (in relation to the exercise of the regulator’s functions under Part 3 of the Pensions Act 2004 only)

Press contacts

Lucy Mundy Media Relations Manager pressoffice@tpr.gov.uk 07345 436 086 Out of hours This is for journalists only with a media enquiry. The below number will divert to our on call media officer. pressoffice@tpr.gov.uk 01273 648496

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