View more on these topics

David Cameron appoints former adviser to Tony Blair as new pensions minister

Following a cabinet reshuffle in light of last week’s general election, David Cameron has announced that Ros Altmann will be replacing Steve Webb as pensions minister. As the industry works with one of the largest reforms to the sector in almost a century, the former adviser to Tony Blair has been tasked with ensuring that the pensions revolution does not stray off track.

Altmann began her career as an academic at University College London, the London School of Economics and Harvard University, researching UK pensions policy, occupational pensions and retirement.

She has also previously worked as a director of over-50s specialist Saga Group and has been a ‘business champion’ for older people during the coalition government. Altmann will now apply this expertise to aid with overseeing areas such as pensions policy, the state pension, automatic enrolment (AE) and The Pensions Regulator (TPR) to name a few.

She has emphasised her excitement at the opportunity to influence political matters stating that she “passionately believes in the new pension reforms” and that “trusting people with their own money is an essential step to helping everyone make the most of their hard-earned savings.”

Simon Fletcher

Simon Fletcher, chief executive officer of Johnson Fleming, said: “We welcome the appointment of Ros Altmann. Her selection demonstrates that helping individuals plan for their retirement remains a key focus of the government. It’s great to see such a respected industry figure appointed to this role at such a pivotal point for the pensions industry.

“Right now we need to strike the balance between continued legislation to ensure that the market is competitive, innovative and working in the best interests of the consumer, while not overloading employers with further cost and complexities when they really want some space to focus on their core business.

“Something that would certainly help to bed in recent change and ease the path to future development would be a single regulator working more closely with government. This could include a more joined and simplistic approach to the pension regime for companies and individuals from the government down.”

Recommended

Board-Room-Meeting-Room-Business-700.png

MGM Advantage to rebrand under new name

Retirement income firm MGM Advantage is to undergo a rebrand including a name change as the company attempts to break from its reputation as an annuity provider, Money Marketing can reveal. In January last year MGM bought equity release provider Stonehaven. It is expected MGM and Stonehaven will merge under a single new brand in […]

Money-Cash-Coins-GBP-Pounds-UK-700x450.jpg
2

Pension savers shun annuities for drawdown and UFPLS

Drawdown and lump sums are being favoured by pension savers a month after the introduction of the radical new freedoms, figures from Hargreaves Lansdown show. Less than one in ten (8.4 per cent) of Hargreaves’ customers have bought an annuity since 6 April, compared to 75 per cent who entered drawdown and 16.6 per cent […]

2

Ian McKenna: Dispatches from Finovate (Day one)

Watching 70 presentations in two days is an exhausting experience, as anyone who has been to Finovate will tell you, but it is well worth it because of the range and diversity of ideas presented. As a regular attendee (this is my tenth Finovate) I have found it is valuable to identify the presentations I […]

Nigel Farage Ukip leader 2013 700 x 450.jpg
5

Ukip rejects Farage’s resignation

Nigel Farage will remain the leader of Ukip after the party rejected his resignation. Farage announced he would step down on Friday after failing to win the seat of South Thanet, as he had promised in the run up to the general election. But Ukip’s national executive committee has “unanimously” rejected his resignation, saying the […]

Budget summary – March 2016

This week’s Budget looked as if it would be a difficult one for the Chancellor, with disappointing economic numbers and the need to avoid ruffling feathers ahead of June’s in/out referendum. Nevertheless, Mr Osborne did spring a few surprises, including some tax reductions. So how does this budget affect you? If you are – or […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com