Labour MP Emma Reynolds has been appointed to a ministerial position in each HM Treasury and the Division for Work and Pensions (DWP).
It has not but been confirmed if Ms Reynolds can even be the Pensions Minister.
In line with former Pensions Minister and LCP associate Steve Webb, her appointment improves the hopes of extra joined up pensions coverage.
Presently a number of areas of pension coverage are cut up between the Treasury and DWP.
In line with Mr Webb, having a single minister accountable for each might imply that coverage is extra coherent and totally considers the numerous several types of pension preparations which UK employees at the moment use.
Mr Webb mentioned: “There may be a lot to be mentioned in favour of a ministerial position which spans each HM Treasury and the Division for Work and Pensions. Previously, the 2 departments haven’t all the time been ‘joined up’ on the subject of pensions coverage, with Treasury adjustments to pension tax reduction generally undermining DWP efforts to spice up pension saving.
“With a mixed appointment there may be the chance for selections on pensions to take full account of the entire pensions panorama.
“One danger nevertheless is that the Treasury want to see pension property used to advertise financial development at a macro stage might imply that the person member perspective will get much less consideration than it ought to. That is one thing that the brand new minister should guard towards.”
He added {that a} joint minister would make any reform of pension tax reduction simpler. Pension tax reduction is a coverage space which falls firmly throughout the remit of the Treasury however and evaluate would want to completely contain DWP for consideration of how adjustments might have an effect on occupational pensions.
To this point the brand new authorities has made six ministerial appointments to the DWP:
- The Rt Hon Liz Kendall MP – Secretary of State for Work and Pensions
- Alison McGovern MP – Minister of State
- The Rt Hon Sir Stephen Timms MP – Minister of State
- Emma Reynolds MP – Parliamentary Secretary
- Andrew Western MP – Parliamentary Underneath-Secretary of State
- Baroness Sherlock OBE – Parliamentary Underneath-Secretary of State
Ms Reynolds was first elected to Parliament in 2010, representing Wolverhampton NE and served for 9 years earlier than dropping her seat in 2019. She stood once more on the 2024 Election, this time in Wycombe, and returned to Parliament with a majority of simply over 4,500 votes.
