Pension lifeboat picks DVLA boss as replacement for chief exec Rubenstein

Oliver Gill
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The Pension Protection Fund is headquartered in Croydon (Source: Getty)

Britain's retirement fund lifeboat has picked the chief executive of the Driver and Vehicle Licensing Agency (DVLA) as its new boss.

Oliver Morley will replace Alan Rubenstein as the boss of the Pension Protection Fund (PPF) from March 2018.

Swapping the DVLA's headquarters in Swansea for sunny offices in Croydon, Morley will be the PPF's fourth chief executive since its formation in 2004.

‘‘I am really looking forward to taking up my new role, and am excited to be leading the PPF into what is an incredibly important next chapter," said Morley, who has been in charge of the DVLA since November 2013.

"The PPF plays a fundamental role in the pensions’ landscape, protecting the retirement savings of millions of people; that mission is one that strongly attracted me to this role."

Read more: Pension power: Sir Philip Green didn't swear at me, says lifeboat head

PPF chair Arnold Wagner said he was "delighted someone of Oliver’s calibre has decided to join the PPF".

He added: "He brings to the role proven leadership skills, recognised success in engaging with stakeholders and a strong focus on the needs of customers. We have a proven team at the PPF and his leadership will ensure that the PPF enters the next phase of its development well placed to continue to protect the millions of people in the UK who belong to defined benefit pension schemes.”

Morley was awarded a CBE in the 2017 New Years Honours for public sector digital services work. During his time as DVLA boss, he has implemented controversial plans to scrap paper road tax – a move that reports last month suggested has led to evasion tripling since its introduction in 2014.

Read more: PPF deficits relax down but still on "life support"

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