The DWP has appointed experienced FCA regulator executive Mary Starks to lead a review of the The Pensions Regulator.

She will look at how the TPR is performing and where it can improve to provide "greater efficiency and value to taxpayers.”

The review is in line with government policy that stipulates that public bodies should be reviewed each Parliament.

Pensions Minister Laura Trott has asked Ms Starks to deliver the report in May.

Ms Trott said: “All public bodies must ensure that they are accountable and working for taxpayers. Mary Starks has a background working in the regulatory sector and with public bodies, which will help her to deliver effective recommendations.”

Mr Stark’s previous experience includes serving as executive member of the board and director of competition and as chief economist at the Financial Conduct Authority. She has also served as executive director of Ofgem.

Ms Starks said: “I am delighted to be appointed to lead this review. The Pensions Regulator plays a vital role protecting the interests of savers and ensuring employees benefit from workplace pensions.

“As well as drawing on my own regulatory experience, I look forward to hearing from stakeholders from across the pensions sector and working closely with the teams at DWP and TPR. The lead reviewer aims to identify efficiency savings of more than five percent where possible.”

Ms Starks has been recruited by direct appointment.