Nausicaa Delfas has been announced as the new chief executive of The Pensions Regulator (TPR), taking over from Charles Counsell who previously announced he would not be seeking a second term.

Delfas, who will start in the role at the end of March 2023, joins the regulator from her current role as the Financial Conduct Authority (FCA) executive director of governance.

In her new role, she will lead TPR as it looks to implement a raft of initiatives designed to improve outcomes for savers, including pensions dashboards and the new defined benefit (DB) funding code.

In addition to this, the regulator highlighted ongoing work around value for money, ensuring automatic enrolment continues to be a success, and tackling criminal activity as a key focus for Delfas in her new role.

The appointment was welcomed by TPR chair, Sarah Smart, who commented: “I am thrilled to appoint Nausicaa Delfas to the role at a time when the pace of change in the pension industry shows no sign of slowing.

“Nausicaa has a proven track record of delivering transformational change, and her background in governance will be vital as we ensure those who deliver pension savings are meeting the challenges of new legislation, and as we continue to improve our effectiveness by becoming a more data and technology-led organisation.

“I am confident Nausicaa will put value for money, equality and diversity and a determination to tackle wrongdoing at the core of her priorities to help us fulfil our commitment to protect savers and develop as an organisation fit for the future."

Delfas was similarly positive about her appointment as she stated: “I am delighted to be joining TPR as CEO at a time of significant change and challenge.

"Saving effectively for the future is essential for everyone. TPR plays a key role in protecting work-based pensions and the post-retirement income of over 30 million people. I look forward to leading this organisation in its critical work."

Smart also paid tribute to Counsell’s time in the position, adding: “I would like to thank Charles for his outstanding work as CEO.

“He has worked tirelessly to help TPR become the clearer, quicker and tougher regulator it is today, embedding wide-ranging new legislative duties and showing that we will take action to tackle criminal behaviour.

"He has led from the front and has engendered the values by which we, and the industry, should all work.”

Adding to this, Pensions Minister, Laura Trott, commented: "I want to congratulate Nausicaa on her appointment as TPR’s new chief executive.

"Nausicaa will bring a real wealth of experience to the role and I’ve no doubt she will be an excellent choice to continue the pivotal role played by Charles Counsell and the whole TPR team in supporting and expanding pension saving across the country.”

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