Pension Protection Fund - Chair

The Department for Work and Pensions (DWP) is recruiting a new Chair for The Pension Protection Fund (PPF) a UK public corporation, established under the Pensions Act 2004, which protects members of eligible defined benefit (DB) pension schemes across the UK. Since April 2005, the PPF has played a vital role in securing financial futures for hundreds of thousands of people. Introduction from the Minister A Message from the Minister for Pensions, Torsten Bell MP Thank you for your interest in the pivotal role of Chair of The Pension Protection Fund (PPF). As a Public Corporation, the PPF protects millions of people who belong to a defined benefit pension scheme in the UK. It is responsible for safeguarding the retirement security of over 300,000 people. The Government is committed to ensuring that people have security in later life, and it is therefore vital that people have confidence in knowing that if things go wrong, there is support available. The PPF provides that assurance to DB scheme members. This is therefore a challenging but rewarding role in an important area of Government policy. The importance of your contribution cannot be overstated. We are seeking a Chair with a commitment to first-class public services, to building personal trust across the pensions sector, to establishing strong strategic relationships across Government and industry, and a leader that is seeking to make a long-term contribution. The PPF today manages assets of more than £30 billion, making it one of the largest funds in the UK. As it marks its 20th anniversary, the PPF has a proven record of strong investment performance, excellent customer service, and being a significant contributor to the UK pensions debate. It is widely respected across the financial services and pensions community as a well-managed public corporation. The PPF is the ultimate backstop for £1 trillion in pension liabilities, stretching into the next century. The role of the Chair will be to consider the role the PPF plays within the developing pensions landscape, setting out a clear strategic vision and aligned priorities. I am committed to promoting greater diversity in all DWP’s public appointments. If you have the experience and skills we are seeking for the PPF, I strongly encourage you to apply. Should you have any questions about the appointment process, please do not hesitate to contact the DWP Public Appointments Team at: publicappointmentsteam@dwp.gov.uk This is a challenging but profoundly rewarding opportunity, and I look forward to seeing how your leadership will help shape the future of PPF. Additional introductions A Message from DWP Permanent Secretary, Peter Schofield Dear candidate, I want the Department for Work and Pensions (DWP) and our arm’s-length bodies to be places where everyone, whatever their background, feels encouraged to achieve their potential. I believe attracting talented individuals from diverse backgrounds, including regional diversity and the full range of socio- economic groups, will allow us to be better able to provide the best possible support to those we serve. We value diversity and inclusion and actively encourage and welcome applications from everyone. If you are looking for an opportunity to use your talents to make a difference to the lives of millions of your fellow citizens, we look forward to hearing from you. Appointment description The Role of the Chair DWP is seeking a candidate with exceptional communication and leadership skills to fill this challenging role and provide strategic diversity to the Pensions Protection Fund. The successful candidate will be collaborative, persuasive and have the ability to engage effectively with a very broad range of key stakeholders. They will have responsibility for: • Setting the strategic direction for the organisation in a time of change, ensuring it remains resilient and future-focused while delivering long-term efficiency. • Providing visible, forward-looking leadership to help the PPF adapt to a dynamic policy and regulatory environment. • Working closely with the Board and Chief Executive to ensure strategic objectives are clearly defined and appropriately reflected in the organisation’s overall direction. • Leading the Board in providing constructive challenge and support to the executive team. • Chairing Board meetings and ensuring full and effective contribution from all members. • Acting as an Ambassador for PPF, Maintaining and enhancing credibility and reputation. • Building and maintaining strategic relationships with Ministers, DWP officials, and other key stakeholders across government and industry. • Navigating a complex political and regulatory landscape with credibility and confidence. • Conducting annual reviews of individual Board members and supporting the ongoing effectiveness and development of the Board; and • Fostering a strong, inclusive Board culture aligned with the Executive and external stakeholders, grounded in trust, clarity of purpose, and good governance. Organisation description The PPF is governed by an independent Board and is accountable to Parliament through the Secretary of State for the Department for Work and Pensions (DWP). It offers protection to nearly 9 million members in 5,000 occupational DB schemes. When an employer becomes insolvent and the pension scheme cannot meet its obligations, the PPF steps in to pay compensation to members, helping ensure they do not lose their retirement income. The PPF pays compensation at up to 100% for members who had reached retirement age at the point of insolvency, and 90% for deferred members. Survivors’ benefits and ill-health early retirements are also supported under its scheme. The PPF is funded through four main sources: a levy on eligible schemes, recoveries from insolvent employers, income from investments, and assets transferred from schemes entering the PPF. The PPF is one of the UK’s largest pension funds, with more than £31 billion under management. The PPF also administers the government’s Financial Assistance Scheme (FAS), which supports members of eligible pension schemes whose sponsors failed between 1997 and 2005. While the FAS is funded primarily by the taxpayer, it ensures that affected members receive 90% of the expected pension, subject to a cap. The PPF also manages the Fraud Compensation Fund, set up to address pension scheme failures caused by dishonesty in both DB and DC schemes. Headquartered in Croydon, with a small office in central London, the PPF employs over 400 people and operates with a strong performance and customer-focused culture. The PPF is committed to delivering a high-quality service while constantly improving outcomes for its members. Values The PPF is a value led organisation, with a strong culture of personal accountability. Its ICARE values shape the way it works and underpin everything from recruitment and appraisals to decision-making and service delivery. These values are supported by a behavioural framework that helps its people be their best every day. The ICARE values are: Integrity: Doing the right thing Collaboration: Working as one Accountability: Owning our actions and their outcomes Respect: Valuing every voice Excellence: Being our best The values are embedded in the organisation’s leadership and rewarded through initiatives such as the ICARE Awards, which recognise outstanding contributions to the PPF’s mission. Corporate Priorities The PPF’s new three-year Strategy (2025–2028) is focussed on the following key outcomes: • Deliver strong investment performance to ensure financial security for those we protect. • Maintain excellent service, securing high member and levy payer satisfaction levels. • Partner with government and the pensions industry to help give people greater financial security in retirement, both for the members of the schemes we protect and more widely. • Inspire our people to achieve these ambitions so that they are engaged and proud of the role we play, and able to contribute to their full potential. To achieve these outcomes, the PPF will work towards four goals: • We act in the interests of those we protect. • We help shape change in the pensions industry. • We build on our strong foundations. • We adapt and evolve. Each year the areas of focus are operationalised in the annual Business Plan which sets out the critical milestones and planned activities for the year. Areas of focus may change to reflect new government priorities, such as those that may arise from the recently published Pensions Investment Review or phase two of the review (through the Pensions Commission). The PPF continues to evolve, focusing on delivering excellent member outcomes, maintaining financial sustainability, supporting UK growth and being a best-in-class public financial services organisation. Further information can be found on the PPF website and in its Annual Report and Accounts. Board composition Legislation provides that the PPF is operationally independently of Government and is overseen by a Board of executive and non-executive members, including the Chair. The Board of the PPF ensures that effective arrangements are in place to provide assurance on risk management, governance and internal control. The Chair is appointed by the Secretary of State for Work and Pensions following open competition. Public Appointments are regulated by the Commissioner for Public Appointments. The Board of the PPF meets around eight times a year and currently comprises: the Chair; seven Non-Executive Directors; the Chief Executive and two Executive Directors. The Board, led by the Chair, oversees PPF’s strategic and policy direction, and ensures that the PPF is properly run as a public body having due regard to its statutory objectives and has effective internal controls Regulation of appointment This post is regulated by the Commissioner for Public Appointments. For more information, please refer to the Commissioner’s website Person specification Essential criteria It is important that in your supporting letter you provide evidence relating to the essential criteria below. •Leadership: the ability to set strategic vision and drive forward priorities of the PPF, with a strong track record in senior leadership within complex or regulated organisations. •Knowledge: a clear strategic understanding of the pension sector or wider financial services landscape. •Experience: a strong track record of delivery at a senior level delivery within a complex organisation, with experience in customer focused service deliver, governance, or operational leadership. •Relationship building: ability to build strong relationships with stakeholders including Ministers, senior government officials, industry representatives, members, consumers, and other external partners. •Communication: strong communication and interpersonal skills with the ability to listen, accept challenge and constructively challenge others in discussions with clarity and respect. •Judgement: effective decision-making skills with the ability to critically analyse a wide range of information to make clear and objective evidence-based recommendations to support the delivery of the organisation's objectives. •Collaboration: ability to work closely with the executive board and other key stakeholders, providing support, constructive challenge and assurance as appropriate. Desirable criteria •Understanding of the pensions landscape; and •Understanding of and commitment to promoting high standards of customer service to members of the public.

Location: UK, GB

Posted Date: 11/14/2025