Lawrence Churchill has been reappointed chair of the Pension Protection Fund for a further three years.
Lawrence Churchill’s current contract expires on June 30 2007 and his new three year contract will start from 1 July 2007.
Prior to his original appointment Lawrence Churchill was chief executive of Zurich Financial Services, UK Irish and International Life from December 2002.
Secretary of State for Work and Pensions John Hutton said: “Lawrence Churchill’s strong leadership and enthusiasm has been crucial to the success of the PPF. I am delighted he has agreed to continue as chair for another three years.”
Mr Churchill said: “It has been an honour to have led the PPF in the cause of delivering pension security to scheme members whose employer has gone bust.
“I am delighted to accept a second term’s appointment to continue establishing the PPF as a stable and resilient institution, which commands the confidence of scheme members and sponsoring employers alike.”
Churchill will be paid £85,313 per annum for the equivalent of two days per week.