The PPF plays a crucial role in protecting members of defined benefit pension schemes following the insolvency of an employer. If a scheme is unable to pay the pension it promised to its members, the PPF will ensure that compensation is paid.
Minister for Pensions, Baroness Ros Altmann said:
It is vitally important that the PPF continues the excellent work it has been doing in providing a robust and secure safety net for members whose employer fails and their pension scheme cannot meet its pension debt.
I look forward to working with Arnold Wagner who has been with the PPF for 5 years and is already familiar with its operations in protecting defined benefit pension schemes. He takes up the post following the retirement of Lady Judge, and I’d like to thank her for the dedication she brought to the role and wish her every success in the future.
Arnold Wagner said:
I am delighted to be appointed as the new Chair of the Pension Protection Fund. I’d like to thank Lady Judge for her excellent leadership of the board and overall contribution to the PPF over the last 6 years, and wish her well as she moves on to new roles.
The chair’s role is to lead the board in formulating the PPF’s strategy and to ensure that fellow board members have the skills and resources necessary to operate effectively.
The Pension Protection Fund is a public corporation of the Department for Work and Pensions.
Arnold Wagner OBE is a former Director of Human Resources at Smiths Group PLC. He has also served as a Non-Executive Director at the UK Atomic Energy Authority, where he chaired the Remuneration Committee, and in the private sector.
Arnold has had extensive involvement in pensions throughout his career. He was appointed a Non-Executive Director of the PPF in 2011 and is currently Senior Independent Director and Chair of the Remuneration Committee.
Arnold has also been active in voluntary and charitable work in the social care and education sectors, and he was awarded an OBE in 2002 for his services to education.
Media enquiries for this press release – 0203 267 5124
Follow DWP on: