Reappointment of Torsten Bell brings ‘welcome certainty and continuity’

The announcement overnight that Torsten Bell has been reappointed to his dual role at DWP and HM Treasury has been welcomed by former pensions minister and LCP Partner Steve Webb.

Commenting, Steve Webb said: “It is good news that we are not to see a third new pensions minister in barely two years. A revolving door in this key post creates uncertainty and instability in the industry. Instead we have seen the reappointment of someone who has clearly engaged with the post and sought to bring a clear strategic direction to pensions policy.  

"We can now expect to see the ‘pensions roadmap’ set out earlier in July implemented with vigour.  In particular, we can expect to see new areas like retirement CDC given continued impetus. And, once the Pensions Commission has reported early next year, it is highly likely that a new Pensions Bill will be brought forward in 2027 to implement its key findings and to set the agenda for pensions for decades to come.  It is to be hoped that we are seeing a new and welcome era of certainty and continuity in pensions policy.”