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."
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The Pensions Regulator (TPR) has granted 11 master trusts extensions to apply for authorisation, as it confirms it has received 22 applications ahead of the 31 March deadline.