PPF's Chief Executive Oliver Morley to Step Down

The $39.92 billion Pension Protection Fund (PPF) has announced Oliver Morley, currently serving as Chief Executive, will be departing from his position in December 2023 to assume the role of Chief Executive at The Money and Pensions Service (MaPS).

Morley came on board at the PPF in 2018 with the objective of leading the organization's business and digital transformation. Under his leadership, the organization has witnessed substantial change and advancements. Having already accomplished nearly two years of the existing three-year Strategic Plan, one of the foremost responsibilities for the incoming CEO will be to outline the Strategic Plan for 2025-28 for the 440,000-member plan.

Kate Jones, Chair of the PPF, said “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.”

Morley commented, “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.”

Minister for Pensions, Laura Trott, said, “I warmly welcome Oliver to the Money and Pensions Service. 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.”