CEO of UK’s Pension Protection Fund to Depart by Year’s End

Oliver Morley, CEO of the U.K.’s Pension Protection Fund, a public corporation that protects nearly 440,000 defined benefit pension members when an employer becomes insolvent, is stepping down in December.

Morley is leaving the PPF to become CEO of the Money and Pensions Service. The MaPS is an organization sponsored by the U.K.’s Department for Work and Pensions that was created five years ago to replace three government-sponsored financial guidance providers: the Money Advice Service, the Pensions Advisory Service and Pension Wise. It provides free and impartial debt advice, money guidance and pension guidance to the public.

Morley first joined the PPF in 2018, tasked with leading its business and digital transformation, and has overseen “significant change and progress during his tenure,” a PPF release stated.

“We are extremely grateful to Oliver for his significant contribution over the last five years, leading the organization through some challenging market situations and the COVID pandemic, and wish him every success for the future,” PPF Non-Executive Chair Kate Jones said in a release. “He leaves us stronger and more robust, with a clear strategy and an executive team able to lead the organization.”

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Jones said she expects to appoint an interim CEO in “due course,” and with the organization almost two years into its current three-year strategic plan, the PPF stated that one of the key priorities for the new CEO will be to create the strategic plan for 2025 to 2028.

Morley is currently a non-executive director at Kodak Alaris and previously was chief executive of the Driver and Vehicle Licensing Agency and chief executive and keeper of the U.K.’s National Archives. He held various roles during more than six years with Thomson Reuters.

“I am proud of what the team has achieved during my five 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,” Morley said. “It has been a privilege to play a part in the evolution of the organization and I will watch with interest its continuing role as an important part of the U.K. pensions industry.”