The Work and Pensions Committee has endorsed the
appointment of Sarah Smart as Chair of The Pensions Regulator
(TPR).
In a short report (attached) following a hearing with the
candidate on Wednesday, the Committee concludes that Mrs Smart
has the personal independence and professional competence for the
role.
While scrutinising the appointment, the Committee asked a range
of questions about how TPR manages potential conflicts of
interest for its Board members—not only in Mrs Smart’s case, but
more widely. At Mrs Smart’s request, more details about her
interests have been published on TPR’s website, and TPR is
urgently reviewing its Code of Conduct and related rules.
Rt Hon MP, Chair of the Work and Pensions Committee,
said: “We wish Mrs Smart every success in her new position
and look forward to working with her. We are satisfied with the
steps that she is taking to guard against any potential conflicts
of interest and we also welcome her commitment to urgently
improving transparency at The Pensions Regulator. It plays an
important role protecting people’s savings, so it is absolutely
vital that any potential conflicts of interest are set out for
all. The Committee will be keeping a close eye on progress.”
Pre-appointment hearings add to a committee’s scrutiny of the
Government as they ensure parliamentary oversight of key public
appointments, helping to ensure that the Government’s preferred
candidates are suitable for the roles. The purpose of the hearing
is to enable the Committee to investigate whether a candidate has
the necessary competence, expertise and independence for the
post, should they be appointed.
Mrs Smart is currently acting Chair of TPR and has been a
non-executive director since 2016.
