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Industry unfazed by Denham transfer

Pensions industry experts believe that the stakeholder pension reform remains on track despite the transfer of pensions minister John Denham to the Department of Health.


Downing Street says that Denham&#39s replacement will be announced in the next two weeks.


Denham, who added welfare reform to his brief when Frank Field left the Government last year, was promoted to the health post in the wake of the Christmas resignations of Trade Secretary Peter Mandelson and Paymaster General Geoffrey Robinson.


He replaces Alan Milburn, who is promoted to another key post for financial services, as Treasury Chief Secretary.


Legal & General pension strategy director Adrian Boulding says that although the move may have been prompted by events elsewhere the publication of the stakeholder green paper late last year makes this a good time for a change of minister.


He says: &#34The ball has passed to the public, the pension industry and to IFAs to give their views and this is the ideal time for someone else to come in and learn the brief.&#34

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