The chair of the Pensions Advisory Service has stood down from his position after being declared bankrupt. BBC Newsnight has learnt that Museji Takolia will have to leave the post unless he can annul the bankruptcy. He was made bankrupt in July and stood down in September. His absence has not been revealed until now. He was appointed to his position earlier this year by the Department of Work and Pensions, who described him as "a champion of savers". The Pensions Advisory Service offers independent advice about both private and company pension schemes. It is grant-funded by the DWP with paid pension specialists, but it also relies on hundreds of volunteers around the country. Mr Takolia, 55, has also resigned from his job as the chair of the Wye Valley Health Trust.

Interim

The industry publication, Health Service Journal, has reported that his resignation came on October 14 - 11 weeks after he was declared bankrupt. The Pensions Advisory Service has appointed Ann Harris, an experienced former civil servant, to be its interim chair. She was already a non-executive director of the organisation and has been appointed for a term of up to six months.;......Read more here