The Department for Work and Pensions (DWP) has confirmed the appointment of Sarah Smart as the new permanent chair of The Pensions Regulator (TPR).

Smart has been serving as interim chair since 1 April 2021, following the end of Mark Boyle’s term, and is now due to become permanent chair on 1 June 2021.

In April, the Work and Pensions Committee endorsed her appointment after reviewing possible conflict of interest concerns.

There were worries raised about Smart’s husband’s role as chief executive of British Airways Pensions, although they were satisfied by her assertion that he was making plans to leave that role by September 2021.

Commenting on the appointment, Pensions Minister, Guy Opperman, said: “The chair is a vital part of TPR, 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.”

Smart added that she was “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,” she continued.

“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.”

TPR CEO, Charles Counsell, said that Smart had a “deep knowledge” of the pensions industry, having built up 20 years of working in several governance roles, including five years as a TPR board member.

“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,” he stated.

“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.”

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