DWP appoints new Chair of Pension Protection Fund (PPF)
The Department for Work and Pensions has announced the appointment of Joanne Segars OBE as the new Chair of the Pension Protection Fund (PPF), effective from 1 July 2026.
Joanne Segars OBE brings nearly 40 years of executive and non-executive experience in UK pensions and financial services, currently holding a number of board roles including Chair of Trustees at now:pensions, and Chair of the IGC at Legal and General. She has previously held senior leadership roles at the Pensions and Lifetime Savings Association (now Pensions UK) and the Association of British Insurers. She will succeed Kate Jones, who has been on the PPF Board since 2016 and held the post of Chair since July 2021.
The PPF plays a crucial role in protecting members of defined benefit pension schemes should their employer face insolvency, supporting the retirements of nearly 430,000 members.
Minister for Pensions Torsten Bell said:
Joanne Segars brings a wealth of experience and expertise to this role at a pivotal moment for the PPF as we undertake the biggest pension reform in a generation.
I look forward to working with her to ensure the PPF continues to deliver for the millions >of people who depend on it, and to protect the retirement savings of workers across the >UK.
I would also like to thank Kate Jones for her public service, she has given the PPF >outstanding leadership in recent years and I wish her well for the future.
Joanne Segars OBE said:
I am delighted to be appointed as Chair of the PPF. The organisation plays a vital role in >protecting members of defined benefit pension schemes, and I look forward to working >with the Board, CEO, executive team and PPF colleagues to support the organisation as >it continues to develop and evolve in the long-term interests of those it serves.
With the PPF’s strong foundations and clear sense of purpose, I am committed to >ensuring we continue to deliver for members, strengthen longterm resilience, and help >shape the future of the pensions landscape.
As Chair, Joanne Segars will provide strategic leadership to the PPF Board, working in close partnership with the Chief Executive to ensure the organisation is well-governed and that its objectives are delivered effectively.
The PPF is run by an independent Board and is accountable to Parliament through the Secretary of State for the Department for Work and Pensions
Additional information
• Joanne Segars takes up her five-year appointment as Chair of the Pension Protection Fund from 1 July 2026. The current Chair, Kate Jones, will stand down on 30 June 2026.
• In her capacity as Chair, Joanne Segars is entitled to an annual remuneration of £73,840, reflecting a time commitment of two days per week.
About the PPF
• The Pension Protection Fund (PPF) is a public corporation, set up by the Pensions Act 2004, and has been protecting members of eligible defined benefit (DB) pension schemes across the UK since 2005. The PPF is run by an independent Board and accountable to Parliament through the Secretary of State for the Department for Work and Pensions.
• It protects close to 9 million members belonging to more than 4800 pension schemes. If an employer collapses and its DB pension scheme cannot pay members what they were promised, the PPF pays compensation for their lost pensions. The PPF is funded by the return on its investments, assets from pension schemes transferred into the PPF and recoveries from insolvent employers.
• The PPF is one of the UK’s largest asset owners with £31 billion of assets under management. It also administers the Fraud Compensation Fund (FCF), and the Government’s Financial Assistance Scheme (FAS). Across both the PPF and FAS the organisation looks after nearly 430,000 members