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Railpen manages about £36 billion in assets for more than 350,000 members, delivering pension administration and investment services for defined benefit, defined contribution, and hybrid schemes, including the Railways Pension Scheme. It has roots dating back to 1965 as the pensions office for the British Rail Pension Scheme, with the Railways Pension Trustee Company Limited (RPTCL) serving as trustee to keep members’ interests first. Railpen reinvests profits to pay pensions securely, affordably, and sustainably, and sizes and structures investments to protect and grow long-term value for members. The company differentiates itself through a long-term, member-first approach, commitment to sustainable investing, and collaboration with policymakers to shape a supportive pensions landscape.
Industries
Data & Analytics
Financial Services
Company Size
201-500
Company Stage
N/A
Total Funding
N/A
Headquarters
London, United Kingdom
Founded
1980
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Appointments: TfL pension chief joins Railpen board; BA trustees re-elected. The latest hires, promotions and appointments for the week ending 7 August 2026. Martin Hunter, chief executive of the Transport for London (TfL) Pension Fund, has joined the trustee board of the Railways Pension Scheme, it announced this week. Hunter is also director of pensions at TfL, and previously worked for Railpen as head of integrated funding. He said: "I am a very strong believer in the vital role that pensions - and in particular, DB schemes - play in providing security and financial dignity to workers in their retirement, and I am proud to be called to serve the members of the Railways Pension Scheme." The board has also added John McBride, who is a former chief superintendent with the British Transport Police (BTP) and a member of the force's own pension scheme trustee board. Christine Kernoghan, chair of the Railways Pension Scheme trustee board, said: "At a time of significant change across both the pensions and rail industries, the years of experience and variety of skills [Martin and John] each bring to the role will be invaluable as the trustee board continues to deliver its mission to pay members' pensions securely, affordably and sustainably." The duo replace John Wilson, who has been a trustee director since 2008, and Peter Holden, who has been on the trustee board since 2019. Four trustees were re-elected, including Adam Golton, Charles Harding, Richard Goldson and Fatima Baig. Two trustees re-appointed at British Airways. Members of the £4.7bn Airways Pension Scheme have re-elected two member-nominated trustees for a term of five years. Ian Heath and Philip Hogg were re-elected last month by members and pensioners, according to an announcement on the scheme's website. The Airways Pension Scheme has more than 18,000 members in total and is one of two large defined benefit schemes sponsored by British Airways, alongside the £12.7bn New Airways Pension Scheme. Heath and Hogg sit on the Airways Pension Scheme's trustee board along with two other member-nominated trustees, Paul Douglas and Frances Axford, as well as three employer representatives and Vidett's Wayne Phelan, the scheme's independent chair. Douglas and Axford were re-elected for five-year terms in August 2025. Standard Life adds to business development team. Standard Life has appointed Tom Chalkley as business development director in its workplace pensions team. In his new role, Chalkley will oversee relationships with consultants, employers and trustees, the company said. He previously worked at Isio in the consultancy's defined contribution consulting team, and previously worked at KPMG before its pensions team spun out as Isio. Standard Life's workplace business reported net inflows of £5.3bn in 2025 and added nearly 250,000 new customers.
UK pension providers in talks for £1bn Scale-Up Fund. Talks come weeks after France sought to block British participation in EU's own scheme. The UK's biggest pension funds are in talks to launch a £1bn investment vehicle dedicated to backing British tech scaleups, in the latest attempt to unlock more domestic capital for the sector. A consortium of pension providers, including Railpen and Nest, is working with the British Business Bank on the proposed new UK Scale-Up Fund, aiming to create a first-of-its-kind vehicle to help homegrown startups commercialise, expand internationally and create jobs. The announcement comes just weeks after Sifted revealed France was seeking to block the UK's participation in the EU's own €5bn Scaleup Europe Fund, casting doubt over British startups' access to one of the continent's biggest new sources of late-stage capital. In a statement released on Monday, prime minister Andy Burnham described the proposal as "a vote of confidence in British business, British talent and British ambition." He said: "This new fund would help unlock good growth in every postcode, connecting pension investment with the entrepreneurs and technologies that will reindustrialise Britain and create the jobs of the future." The fund would seek to generate long-term returns for pension members by investing in successful UK companies, while supporting economic growth through innovation and job creation. "Our priority is always to deliver strong long-term outcomes for our members," said Railpen CEO Andy Bord. "The UK Scale-up Fund represents a compelling investment opportunity where disciplined, patient capital can help growing companies scale." Nest chief Ian Cornelius added that the pension provider saw "an important role for pension capital in helping successful UK businesses access the funding they need to grow." The proposal follows years of debate over the UK's shortage of domestic growth capital. While Britain boasts one of the world's largest VC markets, many of its most successful startups still depend on foreign investors to fund later-stage growth, prompting repeated calls from founders, investors and policymakers for UK pension funds to play a larger role in backing homegrown tech companies. Martin Coulter is Sifted's news editor, based in London. You can follow him on LinkedIn and X
Chris Hitchen among trio of appointments to TPR board. Former Railpen chief executive Chris Hitchen is one of three new appointments to the board of the Pensions Regulator (TPR), it announced this week. Also joining is Tracey McDermott, a former senior director at the Financial Conduct Authority (FCA). TPR's executive director of market oversight, Ben Gunnee, has also been named to the board. McDermott and Hitchen replace Alison Hatcher and Kirstin Baker as non-executive directors. Hatcher left the regulator's board last year, while Baker will step down after concluding her spell as interim chair. Emma Douglas will take over as chair of TPR on 1 July. Baker said the new appointments "bring strong leadership experience and deep pensions, regulatory and financial services expertise" to support the board and Douglas when she takes up her role. The regulator has refreshed its structure and made several new senior appointments over the past 18 months in preparation for changes being made through the Pension Schemes Act. TPR will publish a new five-year strategy next month in response to the act's contents. The new faces on TPR's board. Hitchen worked at Railpen for 19 years, including as chief investment officer and latterly CEO. He is a former chair of Pensions UK, and has held a number of non-executive and trustee positions in recent years, including at Nest and Border to Coast Pensions Partnership. Hitchen is currently chair of the Nuclear Liabilities Fund and a member of the investment committee at Guardian Media Group, which owns The Guardian and The Observer newspapers. "My longstanding experience representing the pensions industry and working across large, complex schemes has forged my commitment to better long-term outcomes for pension scheme members, their employers and for the UK as a whole," Hitchen said. "I look forward to working with the board and industry colleagues to deliver strong, flexible governance and high standards across the sector." Chris Hitchen spoke to Pensions Expert's sister title LAPF Investments last year as he prepared to step down from the board of Border to Coast. McDermott, meanwhile, spent 15 years at the FCA and its predecessor, the Financial Services Authority, holding several senior roles, including director of enforcement and financial crime, director of supervision and authorisations, and acting CEO. After leaving the FCA, McDermott worked at Standard Chartered on its global management team. She chairs the board of trustees of the Standard Chartered Foundation and is a member of the management team of Wolfsberg Group, a global banking lobby group. Ben Gunnee joined TPR in February as interim executive director of market oversight and has subsequently been given the role on a permanent basis. He said: "People expect a secure, sustainable income in retirement. At this vital moment for pensions, I welcome the opportunity to help deliver essential reforms and shape a system that drives strong outcomes for members. "My focus will be on ensuring market participants have the highest standards of governance, employing a forward-looking and proactive supervisory model to stop harms before they arise."
Railpen appoints chief people officer and chief risk officer. Railpen, manager of the £34bn railways pension scheme in the UK, has appointed Sian Myers as chief people officer and Helen Whelan as chief risk officer. Myers will be accountable for Railpen's people strategy. She replaces Paula Brack, who is retiring. Myers joins Railpen in April from insurance company Ageas UK, where she was chief people officer. She also previously worked as chief people officer at Countryside Partnerships, now Vistry Group, and in senior human resources positions at Ford Motor Company. At Railpen, Whelan will lead business-wide action to identify and mitigate financial, compliance and operational risks. She replaces interim chief risk officer Craig Hamilton. Whelan will join in late March from private bank Brown Shipley & Co, where she was chief risk officer. Before then, she worked at LGT Wealth Management for almost 16 years, most recently as head of risk. Andy Bord, chief executive of Railpen, says: "I am delighted to welcome Sian and Helen to Railpen. Their expertise, extensive experience and strong leadership will be invaluable as we navigate the opportunities and challenges that lie ahead." Myers and Whelan will both join Railpen's executive committee, reporting directly to Bord. In January, Railpen appointed Sarah Gray as general counsel, replacing Sally-Ann James, who is retiring.
Railpen appoints new general counsel. Railpen has appointed Sarah Gray as general counsel, replacing Sally-Ann James, who is retiring. Gray, who has decades of experience, joins from the Post Office, where she was most recently interim group general counsel. She has previously held senior roles at Santander, RSA and other companies. She will join Railpen's Executive Committee, leading the legal, compliance, governance and financial crime functions and reporting directly into chief executive officer Andy Bord. Railpen chief executive officer Andy Bord says: "Sarah joins Railpen at a time of significant change in the pension and railway industries. She is an excellent addition to the team, and her vast wealth of experience will be invaluable in leading its legal, compliance and governance functions. "Sarah joins Railpen with almost 30 years' of legal experience and brings a proven track record of highly effective negotiation, advice and communication that perfectly positions her to support the entire business in its increasingly complex environment. "I would also like to take this opportunity to thank Sally-Ann from all of us at Railpen for her exceptional work, and to wish her all the best on a well-earned retirement." Gray says: "I'm delighted to join a purpose-driven company that puts its members at the heart of every decision. It is an exciting time to join Railpen, with reforms underway across the pensions and railway sectors. I look forward to applying my experience in legal, compliance and governance to support the leadership team - helping the company navigate these changes while ensuring we deliver on our purpose of securing our members' future." Corporate adviser special report.
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Industries
Data & Analytics
Financial Services
Company Size
201-500
Company Stage
N/A
Total Funding
N/A
Headquarters
London, United Kingdom
Founded
1980
Find jobs on Simplify and start your career today