Former pensions minister Steve Webb has been confirmed as the director of policy and external communication at Royal London.
Webb’s appointment was first reported in late July, but the insurer has now confirmed his role.
Handed a newly created position, Webb will be responsible for developing policy and overseeing public relations and public affairs activity.
Parliamentary rules prevent Webb from any direct lobbying activity for the first two years of his appointment.
He will take up the role from November 9.
Royal London chief executive Phil Loney says: “Having debated public policy issues with Steve during his tenure as pensions minister I know that he shares Royal London’s values and is a supporter of our customer-owned business model.
“His strong background in public policy and experience in government will be invaluable to Royal London as a thought leader on a wide range of financial issues affecting today’s consumer, during a period when building a savings culture is near the top of the public policy agenda.”
Webb says: “Having been involved in designing policy in areas such as automatic enrolment I am looking forward to seeing how it is implemented on the front line.
“As someone who has always wanted a better deal for pension savers, the customer-focused ethos of Royal London is a perfect fit with my priorities and I am greatly looking forward to this opportunity.”
An MP since 1997, Webb was previously an academic, working as a professor of social policy at Bath University.
He also spent nine years working as a micro-economist at the Institute for Fiscal Studies.
Webb’s former shadow Gregg McClymont joined Aberdeen Asset Management as head of retirement savings in mid-July.