UK - The Pension Protection Fund (PPF) has confirmed Martin Clarke's appointment as permanent director of financial risk.
Clarke joined the PPF in an interim capacity last year after almost 30 years at Co-operative Insurance Services.
PPF chief executive, Partha Dasgupta, said: “His appointment comes at a crucial time for the organisation as we implement risk and investment strategies aimed at balancing security for scheme members while seeking in the long term to add value for levy payers by out-performing liabilities.”
Clarke said the PPF faced a challenging time: “It is vital that we get our risk and investment strategies right as they will play an increasingly important role in meeting our main objective of paying the right people the right amount at the right time.”
Clarke's comments have followed criticism of the PPF's levy scaling factor for potentially costing companies five times more than last year.
The reason behind more than doubling the levy to £675m since last year was more extensive information collection and to make up for the shortfall it experienced in 2006, according to the PPF.
Last month, the PPF issued a contract for a consultancy to provide an SRI overlay management and corporate government proxy voting.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.
Smart Pension has absorbed more than 6,500 members from the Corporate Pensions Trust (CPT) after its trustees decided not to apply for authorisation.