Interim Chair of National Savings and Investments appointment extended

The Minister for Pensions is announcing today that he has extended Luke Jensen’s term as Interim Chair to the Board of National Savings and Investments (NS&I). This extension to Luke’s interim appointment has been made while the process for appointing a permanent Chair is completed.

Luke Jensen has served as Interim Chair since 1 September 2025. He will serve as Interim Chair for a further two-month period from 1 September to 31 October 2026. HM Treasury has started the process to appoint a permanent Chair to the NS&I Board.

Further information 

• This interim appointment extension was made by the Minister for Pensions as an exceptional appointment without competition following consultation with the Commissioner for Public Appointments, in accordance with the Cabinet Office’s Governance Code on Public Appointments.
• Under the Code, any significant political activity undertaken by an appointee in the last five years must be declared. This is defined as including holding office, public speaking, making a recordable donation, or candidature for election. Luke Jensen has not declared any significant political activity.
• Non-executive members of NS&I’s Board ensure a sound strategy is in place to meet the organisation’s remit of raising cost-effective debt financing for the government. They also act as an external source of advice, have oversight of risk control and ensure NS&I’s links with its outsourcing partners remain open and transparent. 
• NS&I is one of the largest savings organisations in the UK, offering a range of savings and investments. All products offer 100% capital security because NS&I is backed by HM Treasury.