Railways Pension Trustee Company chief executive Phil Willcock has quit the scheme after only 10 months to take up a position as head of AIG UK Life.
The Railways Pension Trustee Company - which runs the railway pension schemes through its subsidiaries RPMI and RPMI Railpen - said the process of appointing a new chief executive would now begin, supported by RPMI chairman Babloo Ramamurthy.
Willcock had begun work at RPMI at the begining of this year - joining from Aviva, where he had been, most recently, chief executive of Aviva Italy.
Commentating on Willcock's departure, Ramamurthy said: "We will be seeking to recruit a high calibre successor who will help deliver RPMI's mission of paying members' pensions securely, affordably and sustainably and provide support to the trustee of the Railways Pension Scheme."
Sir Philip Green's restructuring proposals for his retail giant Arcadia will not "adequately protect" its pension schemes' members, The Pensions Regulator (TPR) has said.
The Marks and Spencer Pension Scheme has completed buy-in deals worth £1.4bn with two insurers, mirroring similar transactions last year.
There have now been a total of 47 buy-in and buyout deals of over £500m announced since 2007. The full list, provided courtesy of LCP, is as follows...