TPR chair to depart after decade of service

Sarah Smart, chair of The Pensions Regulator (TPR), is set to step down in July after being on the TPR board for close to a decade.

Smart joined the board back in 2016, initially as senior independent director and later as board chair.

The department for work and pensions (DWP) is now looking for someone to take her place.

Smart stated she was proud of what TPR had accomplished during her time.

Smart said: “Millions of people rely on a workplace pension to support them in later life and I’m so proud of what we have achieved in my time on TPR’s board over the last nine years.

“The challenge of the last decade was getting people saving, the challenge of the next is to make sure that the system really works for savers.”

Smart added: “To make that a reality TPR is fundamentally changing to become a regulator that doesn’t just protect savers money, but also drives value in the system and supports innovation in the market.

“Now with the ongoing government pension reforms there is a unique opportunity to make pensions work for everyone.”