New Pensions Minister takes up Treasury / DWP joint role

Labour MP Emma Reynolds has been appointed as Pensions Minister in a new joint ministerial role working across both the Treasury and the Department for Work and Pensions (DWP). In the past the Pensions Minister has worked exclusively for the DWP. In a Tweet yesterday Ms Reynolds confirmed the appointment. She said: "Delighted to spend my first day meeting other ministerial colleagues and officials in my new role as Pensions Minister in the Department of Work and Pensions." According to former Pensions Minister and LCP partner Sir Steve Webb, her appointment improves the hopes of more joined up pensions policy in government. Currently several areas of pension policy are split between the Treasury and DWP. According to Sir Steve, having a single minister in charge of both could mean that policy is more coherent and fully considers the many different types of pension arrangements which UK workers currently use. Sir Steve said: “There is much to be said in favour of a ministerial role which spans both HM Treasury and the Department for Work and Pensions. In the past, the two departments have not always been ‘joined up’ when it comes to pensions policy, with Treasury changes to pension tax relief sometimes undermining DWP efforts to boost pension saving. “With a combined appointment there is the opportunity for decisions on pensions to take full account of the whole pensions landscape. “One risk however is that the Treasury desire to see pension assets used to promote economic growth at a macro level could mean that the individual member perspective gets less attention than it should. This is something that the new minister will have to guard against.” He added that a joint minister would make any reform of pension tax relief easier. Pension tax relief is a policy area which falls firmly within the remit of the Treasury but any review would need to fully involve DWP for consideration of how changes could affect occupational pensions. So far the new government 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 Under-Secretary of State Baroness Sherlock OBE – Parliamentary Under-Secretary of State Ms Reynolds was first elected to Parliament in 2010, representing Wolverhampton NE and served for nine years before losing her seat in 2019. She stood again at the 2024 Election, this time in Wycombe, and returned to Parliament with a majority of just over 4,500 votes.

New Pensions Minister takes up Treasury / DWP joint role

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