Smart has been serving as the interim Chair since 1 April 2021, and is due to be made the permanent Chair on 1 June 2021, following the recent Work and Pensions Select Committee pre-appointment hearing.
Minister for Pensions, Guy Opperman, said:
The Chair is a vital part of The Pensions Regulator, 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.
Newly appointed Chair of The Pensions Regulator, Sarah Smart, said:
I am 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.
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.
Charles Counsell, CEO of The Pensions Regulator, said:
We welcome the appointment of Sarah Smart as Chair of TPR. Sarah has a deep knowledge of the pensions industry, built up over 20 years of working in a number of important governance roles, including five years as a Board member at TPR.
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.
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.
The appointment was made following an open competition regulated by The Office for the Commissioner of Public Appointments.