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Malcolm McLean: ‘No immediately obvious candidates’ to fill new Pensions Minister role Commenting on the news that Steve Webb has lost his seat and will not return as Pensions Minister, Malcolm McLean, senior consultant at pension consultants Barnett Waddingham, says: |
“It will no doubt be a great disappointment to many within the pensions industry to learn that Steve Webb has lost his seat in the election and will no longer be able to continue his work now as Pensions Minister. “There will be now no doubt be much speculation as to who the new Pensions Minister might be. There are no immediately obvious candidates and it would be unfortunate given the many pension challenges that still exist, if the new Minister was someone with little or no experience of pensions, as was sadly evident prior to Steve Webb’s tenure.
“One possible solution might be to expand the new role proposed for Ros Altman to operate as the next Pensions Minister from the House of Lords. I await with interest to see who the Prime Minister selects in the new Conservative Government and what changes if any to pensions policy may result going forward.” |
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