The Department for Work and Pensions has announced the
appointment of Sarah Smart as the new permanent Chair of The
Pensions Regulator (TPR).
She has been serving as the interim Chair since 1 April 2021, and
is due to be made the permanent Chair on 1 June 2021, following
the recent Work and Pensions Select Committee pre-appointment
hearing.
Minister for Pensions, , said:
The Chair is a vital part of The Pensions Regulator, providing
effective oversight of this high-profile organisation and
engaging and building positive relationships with senior
stakeholders.
This is a challenging but rewarding role, and I am delighted that
after serving as Interim Chair, Sarah has now been officially
appointed as the permanent Chair.
Newly appointed Chair of The Pensions Regulator, Sarah Smart,
said:
I am delighted to be appointed Chair of TPR at such a challenging and
exciting time. Continuing my work with the Board, I intend to use
my extensive experience in the pensions sector to ensure
TPR’s resources are
used effectively to protect savers, drive up standards of
governance and administration, and embrace change.
My role will be to oversee the strategic delivery of that work,
supporting the CEO and TPR’s many talented and committed
staff, but also challenging where necessary so we remain a
successful, flexible, resilient and diverse regulator.
Charles Counsell, CEO of The Pensions Regulator, said:
We welcome the appointment of Sarah Smart as Chair of
TPR. Sarah has a deep
knowledge of the pensions industry, built up over 20 years of
working in a number of important governance roles, including five
years as a Board member at TPR.
Her experience will be extremely valuable as we strengthen our
regulatory grip on an ever-changing pensions landscape, and meet
the challenges ahead by delivering on our Corporate Strategy.
I look forward to working with Sarah and our Board to ensure that
TPR continues to be
clear, quick and tough, using its resources in the most efficient
way to bring the maximum benefit for savers, and to hold to
account those who threaten the retirement security for millions
in workplace pensions.
The appointment was made following an open competition regulated
by The Office for the Commissioner of Public Appointments.
Further information
- The Chair is entitled to an annual remuneration of £73,840,
based on a time commitment of around 104 days per year.
- The Chair’s performance will be assessed at least once a year
against objectives for each year of the appointment and linked to
the performance of TPR. The appraisal will be
carried out by a person of appropriate level within
DWP.
