The Department for Work and Pensions has announced a new chairman for its NEST Corporation.
From February 1st, Lawrence Churchill will head the UK-wide pension fund and assist in recruiting other trustee members.
"I am delighted to be appointed as the chair of the NEST Corporation," said Mr Churchill of his appointment.
"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," he added.
NEST was designed to provide an occupational pension to those who do not have access to adequate workplace schemes.
Employees who are not offered attractive schemes may also look into additional ways of funding their retirement such as equity release programmes.
Homeowners who take out such policies can use cash from the value of their property assets to boost their finances.
