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Richard Murray appointed Chair of the Trustee Board

Sep 15, 2026
Learn more about Richard and the role the Trustee plays in overseeing your pension...

 

Richard Murray is taking on the role of Chair of the Trustee Board, bringing nearly 30 years' pensions experience to the position. 

The Trustee Board oversees the railways pension schemes, helping to ensure decisions are made in the best interests of its members and employers. It delegates the day-to-day running of the schemes and management of its assets to Railpen, while remaining responsible for ensuring pensions are paid securely, affordably and sustainably.

Richard has served as a Trustee Director for the schemes since 2019 and now succeeds Christine Kernoghan as Chair of the Trustee Board. Richard will work closely with Christine during a short handover period before she continues her role as a Trustee Director.

Who is Richard Murray?  

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.

In September 2022, Richard became a non-executive director of Railpen and was re-appointed as a non-executive director of Railway Pensions Investments Ltd. These roles have given him a broad understanding of the schemes and their members.

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."

After graduating from the University of Edinburgh with a degree in Economics and Statistics, Richard began his career with an employee benefits consultancy. He has spent most of the last 30 years working in pensions.

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.

Richard succeeds Christine Kernoghan

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 thank Christine for her leadership and contribution as Chair of the Trustee Board over the past four years and look forward to her continued input as a Trustee Director.

Find out more about the Trustee

The Trustee plays an important role in overseeing the railways pension schemes and acting in the interests of members and employers.

To learn more, visit: