Governance


We are currently operating concurrent boards as we consolidate our Pensions Administration (formerly RPMI) and Investment Management businesses (formerly RPMI Railpen) into one, under our new name; Railpen.

Both boards; Railpen and Railway Pension Investments Limited (RPIL) report directly to The Trustee and are identically comprised of two members of the Railpen Leadership team (ExCom) and six Non-Executive members, shown below.

Mike Craston

Chair of the Board

Mike is Chair of both boards, having been appointed as a Non-Executive Director and Chair to RPIL in May 2020 and to the Railpen Board in July 2021.

He is also currently Chair and Non-Executive Director of Aviva Investors, whose Global Executive Committee he joined in 2016 with responsibility for leading on global business development. In addition to this role, he also serves as Non-Executive Chair at Idea Group and as Trustee and Chair of the Investment Committee at Independent Age.

Stuart Blackett

Exec Director

A qualified Chartered Accountant by profession, Our Chief Financial Officer Stuart joined Railpen in 2001 as Scheme Accountant.

He began his career in Audit and Business Advisory with Arthur Andersen in 1997, having left the University of York with a 1st Class degree in Economics and Business Finance.

Over the last 20 years, Stuart has built up a wealth of knowledge and experience in corporate and pensions accounting as well as corporate strategy and leadership.

Stuart also holds two external roles as the current Vice Chair of Railway Housing Association, based in the North East and Hereford and as Vice Chair on the board of the Education Training Collective, a group of Further, Higher and Skills based colleges across the Tees Valley and East Cleveland.

Alison Burns

Non-Exec Director

Alison has a wealth of industry experience and holds board level positions at the National House Building Council, Equiniti PLC and previously Hastings PLC. She brings extensive financial services expertise having previously held executive and non-executive roles at Aviva including the position of CEO, Aviva Ireland. Prior to that Alison held a number of senior roles within Santander, Bupa, Lloyds TSB and AXA UK.

John Chilman

Exec Director

John joined as CEO, and an Executive Director of Railpen, in June 2019, having previously served for 12 years as a Director of the Railways Pension Scheme Trustee Company, and Chair for the last five years. John is also an Independent Trustee of the Nestle UK pension fund.

John is a Chartered Accountant by qualification, and was previously Group Head of Pensions at National Grid. Prior to that John held senior financial, commercial and pension positions at a number of large companies, including PricewaterhouseCoopers, South Western Electricity, Shell, HBOS and FirstGroup.

Gerry Doherty

Non-Exec Director

Gerry is a pensioner in the 1994 Pensioners Section of the RPS, having worked for the Operations Department of the British Railways Board for over 15 years. Gerry then joined the full-time staff of the Transport Salaried Staffs’ Association (TSSA) as its Irish Secretary and after holding a number of positions he was elected as General Secretary in March 2004, serving in that position until taking retirement in November 2011.

Gerry served for a number of years on the General Council and the Executive Committee of the Trades Union Congress (TUC) and was also a member of the Commission for Integrated Transport (CfIT) until its demise in 2010. After he retired, Gerry was a director of South Central Youth (SCY), a charity devoted to deflecting young people from engaging in the gang culture prevalent in areas of south London.

Gerry was also appointed as a director of the Trustee Company in 2018.

Christine Kernoghan

Non-Exec Director

Christine was the Head of Financial Services at South Western Railway Limited where her responsibilities included management and operation of the pension scheme. She has been involved with the railways pension scheme for 23 years taking an active role in developing effective communications and improved administration. She was a long-standing member of the South Western Railway Pension Committee. Christine was appointed a director of the Trustee Company in 2016.

Richard Jones

Non-Exec Director

Richard’s 30-year railway career spanned engineering, commercial, corporate real estate and general management positions at BRB, Virgin, Alstom and AECOM. He was involved in the leadership and governance of the Scott Wilson Railways (now AECOM) RPS Section for over ten years. Richard became a railways pensioner in 2018 and was subsequently appointed to a Civil Service role unrelated to the rail industry.

Richard is a Chartered Mechanical Engineer, an IoD Chartered Director and MBA graduate, and has non-executive experience with a Police Authority, including leading on pensions matters.

Richard was also appointed as a director of the Trustee Company in March 2016.

Gary Towse

Non-Exec Director

Gary joined the British Transport Police in 1974 and served in the South East Area. He was a Committee member of the British Transport Police Force Superannuation Fund from 1992 to 2006. He was elected the Treasurer of the British Transport Police Federation between 1996 and 2006. Gary was also appointed as a director of the Trustee Company in 2004.