Automatic Enrolment Retirement Savings System Act 2024 section 12

Term of office

Section 12 sets out the terms of office of Board members, including maximum tenure, staggered initial appointments, and the rules governing reappointment.

• Board members serve terms of up to 4 years; the initial Board is staggered so that 4 members serve 3-year terms and 3 members (plus the first chairperson) serve 4-year terms.
• The chairperson holds that role for 4 years or until his or her Board membership ends, whichever comes first.
• Members may generally be reappointed for one further term, or for up to two further terms if first appointed under the employee/employer nomination process, subject to an overall 8-year cap.
• In exceptional circumstances, and at the Board's request, the Minister may reappoint a member for one additional term even if this would exceed the 8-year limit.