Churchill will assume the role of chair designate from February 1st and take on the full responsibilities of chair of the Nest Corporation on July 5th, when it is established. He will receive £97,500 annual remuneration.
He will start by participating in the recruitment of other trustee members of the Nest Corporation.
Churchill is currently chair of the Pension Protection Fund and will retain this role until June 30.
He is also a member of the Board for Actuarial Standards, the senior independent director of Good Energy Group plc and of the Tunbridge Wells Equitable Friendly Society, and a non-executive director of Bupa.
Personal Accounts Delivery Authority chief executive Tim Jones says: “I am delighted that Lawrence Churchill has been appointed. He has extensive experience in financial services and pensions both from an industry and consumer perspective.
“I am confident that he will use his many years of experience to help guide Nest Corporation through the days to come with an expert hand. This is an exciting and critical time for Nest. Lawrence will play a major part in helping to deliver it.”
Pensions Minister Angela Eagle says: “Lawrence Churchill brings a wealth of experience of pensions to this challenging role, and has a long career of operating at the highest level in large and complex organisations.
“His appointment as chair demonstrates our commitment to recruiting people with a proven track record and the expertise to get the job done. “
Churchill says: “I am delighted to be appointed as the chair of the Nest Corporation.
“Setting up a trust-based, occupational pension scheme, with millions of members, is going to be a major undertaking, and I look forward to being able to play a major part in this radical change to workplace entitlements.
“One of my first tasks will be to take part in the selection of the other trustee members who will form the Nest Corporation to ensure that it has a wide range of skills and experience to help it launch and run Nest.”