PPF names new chief executive

PPF names new chief executive

The Pension Protection Fund (PPF) has appointed Oliver Morley as its new chief executive.

Morley will join the PPF in March 2018 from the DVLA, where he has served as chief executive since 2013.

Alan Rubenstein informed the board in July that he would be stepping down as chief executive early next year.

Chairman Arnold Wagner said: “I am delighted someone of Oliver’s calibre has decided to join the PPF. He brings to the role proven leadership skills, recognised success in engaging with stakeholders and a strong focus on the needs of customers.”

“We have a proven team at the PPF and his leadership will ensure that the PPF enters the next phase of its development well placed to continue to protect the millions of people in the UK who belong to defined benefit pension schemes.”

Morley added: ‘‘I am really looking forward to taking up my new role, and am excited to be leading the PPF into what is an incredibly important next chapter. The PPF plays a fundamental role in the pensions’ landscape, protecting the retirement savings of millions of people; that mission is one that strongly attracted me to this role.”

“The PPF is now an organisation with over £30 billion in assets and over 250,000 members and I will ensure that these members, as well as the schemes across the UK that pay the levy, are well served.”

The Pensions and Lifetime Savings Association (PLSA) welcomed the appointment of Morley as the new chief executive and thanked Rubenstein for his work in the role.

Julian Mund, chief executive of the PLSA, said: “We would like to thank Alan Rubenstein for the huge contribution that he has made to the pensions world with his careful stewardship of this essential safeguard.”

“As chief executive of the PPF since April 2009, he has worked hard to build confidence in the industries lifeboat and helped to ensure that individuals are protected should the worst happen and their scheme fail.

Mund added: “We look forward to working closely with Oliver Morley and his team in the future as we focus on safeguarding the retirement savings of millions of people.”

Categories: News, UK Pensions

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