15Nov

U.K. names new pensions minister

News ,

Paul Maynard was named U.K. pensions minister following a reshuffling of the government.

Maynard was appointed Nov. 13 as parliamentary undersecretary of state at the Department for Work and Pensions, according to a notice on the government’s website.

Read also UK pension funds step in to build affordable homes

His previous ministerial role was as parliamentary undersecretary of state at the Department for Transport, a role he held between July 2019 and February 2020. Maynard is member of parliament for Blackpool North and Cleveleys in the U.K.

He replaced Laura Trott, who was appointed chief secretary to the Treasury as part of changes to Prime Minister Rishi Sunak’s Cabinet. Trott was appointed as pensions minister in October 2022.

Read also UK. ESG: Biodiversity And Nature Risks For Pension Schemes

Pensions ministers are responsible for policy relating to the retirement system, state pensions and pension credit.

The government also said Jo Churchill was appointed minister of state for the DWP. She had been vice chamberlain of His Majesty’s Household-government whip since September 2022.

The DWP is responsible for welfare, pension and child maintenance policy in the U.K. It is the biggest public service department and administers the U.K. state pension as well as benefits to about 20 million claimants, the department’s website said.

Read also UK pension regulator outlines challenges and plans for scheme transformation

 

 

Read more @pionline

Related Posts

26Oct

Spain. 25,000 rally in Madrid demanding state pension guarantees

Authorities said 25,000 people marched through central Madrid on Saturday, October 24, demanding protection for the Spanish state pension... read more

26Oct

US. Retirees are going back to work: ‘Sharp decline in retirement confidence’

People across the United States are pushing back major life milestones due to the current cost-of-living. Retirement appears to be... read more

26Oct

The Poverty Trap: Why Nigeria’s Informal Workers Are At Risk

Millions of Nigerians who spend their working lives running businesses, providing essential services and supporting the economy could face... read more

26Oct

‘Ticking time bomb’: The world’s pension funds face an ageing crisis

The world’s pension systems are confronting a demographic crisis as longer lifespans and dwindling birth rates threaten to stretch... read more

26Oct

Warren Buffett’s 6 golden rules for investors after retirement

Moving away from a consistent salary often proves difficult for people after retirement, as it can be a challenging... read more

23Oct

UK regulator urges pension trustees to stress-test over AI concentration risk

British pension funds could have greater exposure to AI-related risks than trustees realise, Britain's pensions ​regulator said on Thursday,... read more

23Oct

South Africa. Unpaid contributions drive record surge in pension fund complaints

The Office of the Pension Funds Adjudicator (OPFA) received a record 13 041 complaints in the past financial year,... read more

23Oct

Australia. Former Governor’s massive pension revealed

South Australia’s former Governor, Her Excellency the Honourable Frances Adamson AC, will receive a pension of $159,024 every year... read more

22Oct

US. Private equity leads public pension returns for 14th straight year

Private equity has again outperformed every other asset class in America's public pension portfolios, delivering a median annualized return... read more

22Oct

UK. Full state pension will rise by nearly £500 next April under the triple lock

The full state pension will rise by £9.40 a week to around £250.70 from next April under the triple... read more