
January has been a month of significant change at the Pensions Regulator, MaPS and the PPF.
Fiona Frobisher returns to the PPF from the DWP while Gary Miller returns from MaPS
MaPs has moved to Bedford, the Pensions Dashboard has moved into the 7th floor of the DWP’s Caxton House and we still await the arrival of a full-time CEO to ensure dashboard delivery in 2026.
Mike Birch is saying goodbye to Brighton . He will be joining the fast-growing legion of professional trustees. Good luck Mike with your new career at Vidett
Changes at the PPF

Meanwhile – following the transfer of Oliver Morley from CEO of the PPF to CEO of MaPS, the PPF has now announced his successor
We’re pleased to announce that Michelle Ostermann has been appointed as our new Chief Executive Officer and will bring over 30 years of pension investment and senior leadership experience to her new role!https://t.co/61i16VtrbJ pic.twitter.com/IcxvTdBMQO
— Pension Protection Fund (@PPF) January 17, 2024
Michelle will have a female predecessor , marking a welcome increase in female participation in top Governmental pension roles.
Katherine Easter has been appointed as Interim CEO until Michelle joins in April. @LloydKEaster will work with our Executive Committee to lead the organisation and deliver the best possible outcomes for our stakeholders during this transitionary phase. https://t.co/jGmLoqTxzX pic.twitter.com/pRErz5VoY1
— Pension Protection Fund (@PPF) January 17, 2024
With Sara Protheroe as COO. the PPF is doing its bit to bridge the pension gender gap.
Being CEO of the PPF looks one of the cushier numbers right now, Oliver will be swapping a stable and successful PPF for the political mayhem surrounding the (non) delivery of the pensions dashboard and the ongoing issues surrounding the (low) take-up of Pension Wise guidance.
Michelle Osterman will have some pleasant choices to make, whether to push for further work in the pension consolidation space and whether the PPF can become the kind of incubator of productivity envisioned by the Mansion House Reforms.
I know which job I would prefer! Good luck Oliver- your departure is good luck for Michelle – who takes on one of the most pleasant jobs in pensions!
January reminds us of Janus, the God with two heads – one looks back – but the head I prefer is the one that looks forward.
