The Department for Work and Pensions has announced that it will shortly start the search for a new chair for The Pensions Regulator
Michael O'Higgins, TPR's current chair, will leave the post next year as he reaches the end of his term. However, he has agreed to stay on for a further three months to help with the transition, despite his tenure ending in December.
Pensions minister Steve Webb praised O'Higgins for his role 'leading' the regulator through a period of economic uncertainty and significant change for the pensions system.
'He has successfully overseen major initiatives including the launch of automatic enrolment, the preparatory work for the regulator's new objective and the tackling of pension's liberation fraud. I wish him every success for the future,' Webb said.
O'Higgins added: 'This is an incredibly important sector to the economy - one that faces some real challenges, but also a sector where it has been my pleasure to meet many dedicated and hard-working people who want to change things for the better.'
O'Higgins was appointed as TPR chair for a three-year term from January 1 2011 through to December 31 2013.
