Fiona Tierney

Ms Tierney will take over from Dr David Begg, who has been chair of the body since January 2016.

She brings extensive strategic and corporate governance expertise to the role as an experienced and professionally qualified chair and non-executive director, with multi-sectoral board experience from the private, public and not-for-profit sectors.

She has significant experience of oversight, remediation and compliance in regulated industries.

Social protection minister Dara Calleary said: “I am pleased to announce the appointment of Fiona Tierney as chair of the Pensions Authority.

“Fiona brings wide-ranging public sector, business and governance experience to the role combined with a strong background in change management and strategy development.

“Fiona’s breath of experience will prove invaluable as the Pensions Authority and the pensions sector adapts to a changing landscape driven by the continued consolidation of the market, enhanced supervision and a greater focus on coverage and adequacy in occupational pension schemes on foot of the roll-out of MyFutureFund.

“I wish Fiona every success in her role. I am confident she will be able to build on the pension reforms delivered in recent years to ensure that the vision of the Authority is delivered by having a pensions system where retirement savings are secure, well-managed, cost-efficient and easily understood, and which encourages pensions savings.”

He added: “I would like to sincerely thank the outgoing chair David Begg for his excellent work and considerable achievements during his tenure.

“This included guiding the Authority through significant change from the challenges associated with the funding of Defined Benefit schemes post the economic crisis, to the implementation of a new supervisory approach under IORP II and the resulting significant consolidation of occupational pension schemes and the development of Master Trusts – all of which have served to enhance the pensions environment in Ireland to the benefit of pension scheme members.

“I wish him every success in future endeavours.”