The chief executive of The Pensions Regulator (TPR) will be leaving his current position at the end of June to start a new role as group chief executive of the Universities Superannuation Scheme (USS).

To avoid any potential conflict of interest arising from his future role, Bill Galvin will no longer have further involvement with matters relating to the regulation of defined benefit (DB) schemes, and discussions with external stakeholders and European regulatory authorities.

Work on DB schemes will be overseen by TPR's chair Michael O'Higgins, and managed by TPR's executive director for DB regulation Stephen Soper until a new chief executive is appointed.

Steve Webb, minister for pensions, said: "I have enjoyed working with Galvin at a time of major reform in the world of pensions.

"As TPR'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. I wish him all the best in his new role at one of the UK's biggest pension funds."

O'Higgins said: "During Bill's five years at the regulator, the last three as chief executive, he has provided strong and inspiring leadership. His impressive understanding of both strategic and technical issues has proved invaluable.

"Following his successful internal reorganisation of the regulator around its three key tasks – defined benefit, defined contribution, and automatic enrolment - he leaves us well prepared for our growing remit."

Galvin will start his new position at USS in August, but will have no dealings in his new role with TPR until October in accordance with Government guidelines.

He will continue to lead the areas of work not related to DB regulation during his final three months at the regulator.

Galvin said: "Leaving the regulator will be very hard. I leave behind a hugely capable and committed team, which has a clear vision on how to support this vital industry. It has been a privilege to represent their outstanding work to the outside world. I wish them all very well."

First published 27.03.2013

monique_simpson@wilmington.co.uk