Oliver Morley, the chief executive officer of the UK’s Pension Protection Fund (PPF), is set to leave in December 2023 to take up a new role as the CEO of the Money and Pensions Service (MaPS).

Morley joined the PPF in 2018 to spearhead the business and digital transformation of the organisation and has overseen significant change and progress during his tenure.

PPF is currently nearly two years into its three-year strategic plan, and a key priority for the new CEO will be to shape the 2025-28 strategic plan, the fund said.

Kate Jones, chair of the PPF, said: “We are extremely grateful to Oliver for his significant contribution over the last five years, leading the organisation through some challenging market situations and the COVID pandemic, and wish him every success for the future.”

Jones said that Morley leaves the PPF “stronger and more robust” and with a clear strategy and an executive team able to lead the organisation to deliver for “those who rely on us”.

Jones added that the PPF is now searching for the “right leader for the next phase of the PPF’s evolution”.

Morley praised PPF for providing “security and peace of mind” to around 10 million people across the UK. He said: “I am proud of what the team has achieved during my five years protecting our members, delivering for our levy payers, growing our reserves to provide real security and putting sustainability at the heart of our work.”

He added: “It has been a privilege to play a part in the evolution of the organisation and I will watch with interest its continuing role as an important part of the UK pensions industry.”

Minister for pensions Laura Trott welcomed Morley’s appointment to MaPS.

“I look forward to continuing our close collaboration and ensuring the record number of people saving for retirement in this country have access to the support and information they need to make informed choices about their financial futures,” she said.

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