The Pensions Regulator announces new chief executive from the FCA

The UK's Pensions Regulator (TPR) has appointed Nausicaa Delfas as its new chief executive (CEO), taking over the role in March 2023.

Delfas - who is replacing Charles Counsell - joins from her current role as executive director of governance at the Financial Conduct Authority.

She was previously interim chief executive and chief ombudsman of the Financial Ombudsman Service.

In the new role, Delfas will lead TPR as it continues to implement a raft of new high-profile initiatives designed to improve outcomes for savers

She will also focus on driving value for money for savers, ensuring auto-enrolment continues to be a success and tackling criminal activity.

TPR chair Sarah Smart said: "I am thrilled to appoint Nausicaa Delfas to the role at a time when the pace of change in the pension industry shows no sign of slowing.

"Nausicaa has a proven track record of delivering transformational change, and her background in governance will be vital as we ensure those who deliver pension savings are meeting the challenges of new legislation, and as we continue to improve our effectiveness by becoming a more data and technology-led organisation."

She added: "I would like to thank Charles for his outstanding work as CEO. He has worked tirelessly to help TPR become the clearer, quicker and tougher regulator it is today, embedding wide-ranging new legislative duties and showing that we will take action to tackle criminal behaviour. He has led from the front and has engendered the values by which we, and the industry, should all work."

Delfas added: "I am delighted to be joining TPR as CEO at a time of significant change and challenge. Saving effectively for the future is essential for everyone. TPR plays a key role in protecting work-based pensions and the post-retirement income of over 30 million people.  I look forward to leading this organisation in its critical work."

Pensions minister Laura Trott noted: "Nausicaa will bring a real wealth of experience to the role and I've no doubt she will be an excellent choice to continue the pivotal role played by Charles Counsell and the whole TPR team in supporting and expanding pension saving across the country."