The Pension Protection Fund (PPF) has announced the departure of its chief executive, Oliver Morley, who will be leaving to take up a new role as the chief executive of the Money and Pensions Service (Maps), effective from 1 February 2024.

Morley initially joined the PPF in 2018, leading on the digital transformation of the organisation and overseeing significant change and progress. He is set to leave the lifeboat in December 2023.

The appointment was made via an open competition regulated by The Office for the Commissioner of Public Appointments, after outgoing Maps chief executive, Caroline Siarkiewicz, announced in June that she would not be seeking a second term.

His appointment is expected to help Maps deliver on its purpose “to help people, particularly those most in need, to make the most of their money and pensions".

Having also previously acted as DVLA CEO, Morley has both private sector and public sector experience, with his experience at the PPF providing him with an established relationship with key pensions industry stakeholders to support the team when delivering the Pensions Dashboards Programm (PDP), including the MoneyHelper dashboard.

Commenting on the news, PPF chair, Kate Jones, stated: “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.

“He leaves us stronger and more robust, with a clear strategy and an executive team able to lead the organisation to deliver for those who rely on us, while also looking to the future and fresh challenges.

“I expect to appoint an Interim CEO in due course, and am confident in a seamless transition as we now commence the search for the right leader for the next phase of the PPF’s evolution.”

Adding to this, Morley stated: “The PPF is an exceptional organisation providing security and peace of mind to close to 10 million people across the UK and I am proud of what the team has achieved during my 5 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.

“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.

"I greatly look forward to working with Sara Weller and the teams across the UK to take the Maps mission forward with its clear focus on helping people improve their financial wellbeing, while remaining part of the same departmental family."

The Pensions Minister, Laura Trott, also welcomed the appointment, stating: “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.”

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