The Department for Work and Pensions (DWP) has appointed Mary Starks to lead on its review of The Pensions Regulator (TPR), with the report expected to be delivered by May 2023.

In particular, the review will examine how TPR is performing its role and where it can improve, providing greater efficiency and value to taxpayers.

This is in line with the expectation that public bodies are reviewed each parliament, with DWP confirming that the Stark will aim to identify efficiency savings of more than five per cent where possible.

Stark was recruited by direct appointment, having previously served at the Financial Conduct Authority (FCA) as an executive member of the board, director of competition and chief economist, and Ofgem executive director prior to this.

Commenting on the appointment, Pensions Minister, Laura Trott, stated: “All public bodies must ensure that they are accountable and working for taxpayers.

“Mary Starks has a background working in the regulatory sector and with public bodies, which will help her to deliver effective recommendations.

Adding to this, Starks stated: “I am delighted to be appointed to lead this review. TPR plays a vital role protecting the interests of savers and ensuring employees benefit from workplace pensions.

“As well as drawing on my own regulatory experience, I look forward to hearing from stakeholders from across the pensions sector and working closely with the teams at DWP and TPR.”

Plans for the review were also confirmed alongside the appointment of Sara Weller as chair of the Money and Pensions Service (Maps).

Weller will formally take up the role from 29 March 2023, having been serving as a non-executive board member since September 2022.

Her prior experience includes serving as Sainsburys joint managing director, Argos managing director, and Lloyds Bank Group responsible business committee chair and non-executive director.

Commenting on the appointment, Trott said: “It’s brilliant to see Sara appointed as the permanent chair of Maps Sara will bring a wealth of experience to this challenging but rewarding role, continuing the work of her predecessor in supporting people across the country with vital money guidance.

Economic Secretary to the Treasury, Andrew Griffith, also welcomed the appointment, stating: “I’d like to welcome Sara to her new post as chair of Maps, and to thank Sir Hector for his successful leadership over a number of years.

“Sara’s expertise in delivering for the consumer will ensure Maps is well geared in the years ahead - taking forward vital work enhancing the financial capability of people across the country.”

Share Story: