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Ros Altmann replaced as pensions minister

Ros Altmann

Baroness Ros Altmann will not serve as pensions minister in Theresa May’s new Government.

Altmann was given a peerage and made pensions minister after the Conservatives won a majority in the May 2015 general election.

Portsmouth North MP Penny Mordaunt has been appointed minister of state for the Department of Work and Pensions but her specific brief has not yet been revealed.

In a letter sent to the Prime Minister Altmann says: “I am at heart a policy expert, rather than a politician.”

She goes on to set out a series of priorities for her successor to tackle as the UK enters “uncharted waters”.

These include an overhaul of pensions tax relief, though not a move to the TEE model, a major review of the defined benefit system, and “fair treatment for women” affected by changes to the state pension age.

She says: “On the issue of women’s state pension age, whilst I respect the democratic decision taken in 2011 by our Parliament, I am not convinced the Government adequately addressed the hardship facing women who have had their state pension age increased at relatively short notice.

“They were not adequately informed. I also believe we must devote resource to widely communicating and publicising the coming changes to state pension age for both men and women.”

She adds: “I am honoured and grateful to have had the opportunity to serve in Government and look forward to continuing to advise on pensions, finance and later life policies from the House of Lords benches.

“As an economist and investment professional who has been involved in all aspects of pensions for nearly 40 years, I am at heart a policy expert, rather than a politician. I have spent my entire career trying to help as many people as possible enjoy better later life incomes, encouraging consumer protection and social justice.”

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Comments

There are 16 comments at the moment, we would love to hear your opinion too.

  1. Well goodbye and thanks for nothing, not even a mention of the frozen pensioners ?
    I suppose you will support the fraudulent discrimination in your new found position that should be the catalyst for achieving pension parity for those few that are treated so harshly by successive governments without any justification that you previously acknowledged as being a cause to be rectified. You are now in a position to do just that by supporting any questions raised in the House of Lords to rectify poor judgement by politicians if all colours.

  2. Andy Robertson-Fox 16th July 2016 at 10:17 am

    At the time of writing I have not seen anything to confirm that Penny Mordaunt will be replacing the Baroness, only that she has been appointed as a minister in the DWP. Damian Hinds, the MP for East Hampshire has been similarly appointed “as a minister” so perhaps makıng that assumption is a trifle premature.
    I must add that I find it very disappointing that no mention of the scandalous frozen pension was made by Ros in her letter of resignation but she highlights the Waspi protests and who, in my opinion, have far less to moan about – they are not being discriminated against.

  3. “I am at heart a policy expert, rather than a politician.”

    Of course you are. I was always surprised that you wished to lower yourself into the sewer that is politics. I thought you had learned your lesson with Blair.

    You are much more useful giving them a good kicking from the outside where you are not bound
    by their venal conventions.

    Good luck to you and wishing you a more peaceful and fulfilling role in the future.

  4. Julian Stevens 17th July 2016 at 8:03 pm

    May we hope that top of her successor’s agenda are (true) simplification and abolition of the LTA.

  5. Very disappointing…………………..not that she is going but what she didnt do whilst in the role.

    I had high hopes re the Lifetime allowance when she took the job. sadly nothing

  6. Welcome to the ‘madhouse’ Ms Mordaunt. Perhaps, as a start you could get HMRC to lift the ban on transfers of pensions with protected Tax Free Cash so that members can take advantage of the new pension freedoms without losing a shed load of tax free money? At least they could introduce a further period of amnesty as previously. Perhaps you could use your history of being involved in ‘Magic’ to conjour something up? Best wishes in your new post, I hope that you can make a difference.

    • Andy Robertson-Fox 18th July 2016 at 10:17 am

      Further to my earlier posting I now note that Mordaunt’s Wikipedia entry has been amended and shows her as having been appointed as Employment Minister…..time will tell!

  7. Andy Robertson-Fox– your comment–
    I must add that I find it very disappointing that no mention of the scandalous frozen pension was made by Ros in her letter of resignation but she highlights the Waspi protests and who, in my opinion, have far less to moan about – they are not being discriminated against.
    I disagree with your comments re WASPI-
    These women are being discriminated against, some being asked to work an extra 6 years with 6 years extra contributions input for no extra retirement benefit! The sad fact is that Ross Altman recognised that these women were being discriminated against and that she was in a position to do something about this but didn’t!!

    • It simply brings them into line with men. Harsh but true and signposted years in advance. Unfortunately the country is in massive debt and the cuts have to come somewhere.

    • Andy Robertson-Fox 18th July 2016 at 12:37 pm

      No, they are not being discriminated against but treated differently under a set of different rules. All those whose birthdates fall wıthin the set parameters will be treated equally and the age from when the State Retirement Pension is payable is not specific and never has been. The fact that they may be paying in for longer is not relevant as the pension is based on qualifying years and not financial input.
      The transitional and notification arrangements may have been inadequate and I think it is more than likely that Altmann recognised this in seeking to improve matters met a major obstacle …IDS
      The frozen pensioner having contributed on the same terms during their working life as everyone else is denied index linking and, therefore, is not able to claim on the same terms as everyone else in retirement….now that is discrimination.

  8. Paolo Buco nel Terreno 18th July 2016 at 3:34 pm

    How can we get stable outcomes and progressive ways forward when Ministers are chopped and changed all the time…….will they ever learn??

  9. Oops, a bit premature with Penny Mordaunt, suddenly changing to Richard Harrington apparently. Now that’s what I call magic!
    Welcome to the ‘madhouse’ Mr Harrington. Perhaps, as a start you could get HMRC to lift the ban on transfers of pensions with protected Tax Free Cash so that members can take advantage of the new pension freedoms without losing a shed load of tax free money? At least they could introduce a further period of amnesty as previously. You are now at the older and sharper end of politics and can, with some simple rule changes, help Pensions to become sought after retirement plans. LTA = Tax on growth, MVR = Tax on lack of understanding, Age 75 penalties/restrictions = Tax on the the new ’65’s’, if pension payments are moving to 68 because we are living longer, so should the age 75 restrictions be moved to 78.You cannot have your cake and eat it! Best wishes in your new post, I hope that you will make a difference because Pensions may have to survive 35 – 40 years in payment

  10. To be brutally honest she had no right to be there anyway, gifted a peerage, a square peg forced into a round hole……. i think this says more about Cameron’s willingness to dish out gongs to yes men or women, kind of de-values the whole honour system really !

    The whole argument as to whether she was good at her job or not is/was immaterial; you take a bribe and it renders you incapable of being objective.

  11. Julian Stevens 20th July 2016 at 8:42 pm

    No.11 and the Treasury decide pensions policy. The post of Pensions Minister is just a PR number. What pension policies did Steve Webb actually devise and push through? None.

  12. bit later after the horse has bolted.So many woman not informed .She should have checked the 1ST rise of age (being informed)before doing a 2nd age increase.Why does she not leavepensions alone ,where doing fine before her input.Now shes saying no 1/2 pay out for widow and widowers from final salaries.Your not pension minister anymore—get over it

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