Guy Opperman reappointed as Pensions Minister

14 February 2020

 

Many experts in the pension industry have breathed a sigh of relief over the reappointment of Guy Opperman as pensions minister, after Sajid Javid sensationally resigned as Chancellor of the Exchequer following Boris Johnson’s cabinet reshuffle.

Pension experts have confirmed that this is a positive and welcome piece of news as it ensures continuity within the government, particularly in the realm of pensions and the continued momentum of the Pensions Bill.  Ensuring further consistency, Therese Coffey was also reappointed as secretary of state for pensions.

Mr. Javid has been replaced by Rishi Sunak in the role of Chancellor, and there were also several other changes that saw business secretary, Andrea Leadsom, attorney general, Geoffrey Cox, Northern Ireland secretary, Julian Smith and Esther Mcvey, housing minister, lose their jobs.

Mr Opperman tweeted:

“Delighted to be re-appointed by the PM as minister for pensions and financial inclusion. We’ve already achieved a lot, but there is lots more to crack on with. 

 Top priorities are [getting] the Pension Schemes Bill through the House of Commons and continuing progress on ESG (Environmental, Social, and Governance).”

 Financial Adviser confirmed that Mr Opperman’s intentions are for the Pension Schemes Bill to reach the House of Commons by Easter, and will introduce the long anticipated pension dashboards, give The Pensions Regulator (TPR) enhanced powers, establish collective defined benefit schemes and ensure that pension schemes are aware of climate risks and account for this.

 


Information provided in this news article may be subject to change. Please make note of the date of publication to ensure that you are viewing up to date information. Download the CIPP's Payroll: Need to know - your guide to payroll legislation and reporting for the most up to date data.