The National Association of Pension Funds (NAPF) has welcomed the news of Lawrence Churchill’s appointment as chair of the NEST Corporation.
Mr Lawrence will lead the Department for Work and Pensions’ nationwide pension scheme from February 1st.
The NAPF said Mr Churchill’s appointment was an "excellent choice".
Joanne Segars, NAPF chief executive, said: "His lifelong experience of the pensions sector will serve him well in this challenging role.
"The NAPF supports the 2012 reforms and believes NEST has an essential role to play in providing a pension for those employees without access to a good workplace pension. We look forward to working with Lawrence."
Mr Churchill will be tasked with running the scheme in a bid to provide a quality pension scheme for all UK workers.
Volatility in the pension market during the recession could leave many Britons disillusioned with the pension market and seeking out additional ways to fund their retirements.
Many now look to schemes such as equity release to provide them with an additional retirement income.
