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Royal London recruits Steve Webb as policy director

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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.

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Comments

There are 8 comments at the moment, we would love to hear your opinion too.

  1. Questions:-

    1. Was he a former of government pensions policy or just a mouthpiece?

    2. Does he have any relevant qualifications?

    3. Does he have any hands on experience as an adviser?

    4. Has he ever spent any meaningful amount of time in an advisory practice seeing and discussing what we actually do?

    5. Does he have any experience of commerce/business in the real world or was he just a University academic?

    6. What does a professor of social policy actually do?

  2. peter mulholland 12th August 2015 at 12:40 pm

    Maybe he should have a word about their offshore bonds and hidden commission on expat business

  3. Christine Brightwell 12th August 2015 at 12:59 pm

    Hmmmmm

  4. Andy Robertson-Fox 12th August 2015 at 1:58 pm

    This is the man who said that “all State Pensions payable to pensioners who live outside of the UK shall be increased annually by the same percentage rate as is applied to pensıons paybable to pensioners living within the UK”.
    He then became Minister for Pensions….and on leavıng offıce fıve years later some 550,000 expat pensıoners are stıll frozen.
    Didn’t direct that policy very well did he?

  5. Collective action will see him removed from this job quickly. He was as useless as the rest of them at Westminster, who leech off the taxpayers at large with no skill, expertise or ability at anything except talking bullsh!t.

    Whilst he remains employed by Royal London I will not advise any of my clients to use this company. I will explain why to them.

    A few more doing the same may well result in a change of heart by them. We’ll see!

  6. As a Pensions Minister responsible for the state pension of millions of pensioners he saw fit to abandon his responsibility towards the half million or so that Andy Robertson-Fox mentioned and by doing so condoned the long standing discrimination against the current pensioners that were affected and then by placing section 20 into the new Pensions Act he continued the fraudulent policy for future pensioners.
    If that is not a red flag for Royal London then he must make a good cup of tea.

  7. I can’t believe Webb has got this job, he shouldn’t be allowed anywhere near pensions. He ruined the pension plans for millions of state pensioners and reneged on his support for the frozen 4% who, just because of where they live, have no annual cost of living indexing even though they qualify by the fact they paid NI contributions just the same as everyone else. He said this was wrong and an injustice and if one had paid for an index linked pension one should get it wherever one lived in the world, but then he became pensions minister and he did an about face and let the most needy and vulnerable of UK pensioners down, many of whom are receiving less than £20 a week when by right they should be getting at least £100. I wouldn’t feel confident asking this man to see my granny across the road let alone get his mitts my pension plans because he say’s one thing then does another. Which in my book means he has no credibility.

  8. peter mulholland 12th August 2015 at 7:36 pm

    And the non disclosed stock broker fees and non disclosed fx fees in the offshore bond. Welcome to the Wild West or back to the eighties investment world of Royal London offshore.

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