Welcoming Richard Murray as new Chair of the Trustee Board

Today (Tuesday 15 September 2026), Richard Murray steps into his new role as Chair of the Trustee Board for the railways pension schemes.

Richard joined the Trustee Board of the railways pension schemes in 2019. He was also a non-executive director of Railway Pensions Investments Ltd from January to July 2021. Most recently, Richard was Group Pensions Director at FirstGroup until September 2025. During his 17 years with the company, he held a number of pensions management and trustee roles supporting its pension arrangements in the UK and North America.

Through these roles, he has developed extensive experience in pension scheme governance, funding and member outcomes.

Richard said: "It is a privilege to be appointed Chair of the Trustee Board. I take on this role with a strong sense of responsibility and purpose - to provide effective governance, champion the interests of our members, and ensure a clear focus on delivering the best possible long-term outcomes that make a meaningful difference to their financial futures.”

Richard succeeds Christine Kernoghan, who became the first female chair of the Trustee Board in 2022 and will remain a Trustee Director following the transition. The appointment follows a planned handover period to ensure continuity of leadership and governance.

Christine said: “I am delighted that Richard has been appointed as Chair of the Trustee Board. Having worked closely with him over a number of years, I have seen first-hand his commitment to strong governance, thoughtful decision making and acting in the best interests of the members and employers we serve. I know the Trustee Board will benefit greatly from his leadership as it continues to navigate a rapidly evolving pensions landscape.”

The Trustee and Railpen would like to offer their fullest thanks to Christine for the excellent work she has done as Chair of the Trustee Board.

Following the Trustee Director nominations and elections earlier this year, the Trustee Board recently welcomed Martin Hunter and John McBride as its newest Directors, and said thank you and goodbye to Peter Holden and John Wilson. Adam Golton, Charles Harding, Fatima Baig and Richard Goldson, whose roles were also up for nomination, were re-elected.