Oliver Morley is to become chief executive of the Money and Pensions Service from 1 February 2024, stepping down as CEO of the Pension Protection Fund in December. The PPF will appoint an interim CEO as it searches for a successor. 

 

Morley will replace Caroline Siarkiewicz. Before joining the UK’s pensions lifeboat fund in 2018, he was chief executive of the Driver and Vehicle Licensing Agency and of the National Archives, having worked in various sales roles at Thomson Reuters. 

 

He will be working with MaPS chair Sara Weller, who welcomed Morley and thanked Siarkiewicz for her leadership and commitment. 

 

Morley said: “MaPS has a key role to play making impartial money guidance accessible to all, and I look forward to working closely with our many partners to help people right across the country feel more able to manage their money." 

 

MaPS said Morley’s experience at the PPF comes with relationships with pensions industry stakeholders that will “support the team as we deliver the Pensions Dashboards Programme, including our own MoneyHelper dashboard, over the next three years”. 

 

The implementation of pensions dashboards has been delayed until October 2026, when the law now requires schemes to be connected to the dashboards’ infrastructure. A preceding timeline for staging was however put into guidance rather than legislation as originally planned. 

   

   

    

Pensions minister Laura Trott also welcomed Morley to MaPS, saying: “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.” 

 

Andrew Griffith, economic secretary to the Treasury, added that he looked forward to working with Morley to improve financial wellbeing across the UK. 

 

The PPF said that two years into its current three-year strategic plan, one of the key priorities for the new CEO will be to shape the 2025-28 strategic 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.” 

 

The PPF expects to appoint an interim CEO, drawn from its executive committee.

Jones said adding that the PPF will now start search “for the right leader for the next phase of the PPF’s evolution”.  

The PPF has tasked recruiters Norman Broadbent with the search, noting that it welcomes applications from internal and external candidates.