Torsten Bell’s reappointment to his dual role at the Department for Work and Pensions and HM Treasury has been broadly welcomed by the pensions industry.

However, experts have reiterated the need for stability and a sharper focus on delivering reforms.

Bell will remain pensions minister following the government reshuffle confirmed on 22 July, avoiding what former pensions minister Steve Webb described as “a third new pensions minister in barely two years”.

Webb, now a partner at consultancy LCP, said frequent ministerial changes created “uncertainty and instability” for the industry.

He added: “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.”

Webb said the decision should provide momentum behind the government’s pensions roadmap, including the development of retirement collective defined contribution (CDC) schemes.

He also predicted that a new Pensions Bill could be introduced in 2027, following the Pensions Commission’s report early next year, to implement its central recommendations.

“It is to be hoped that we are seeing a new and welcome era of certainty and continuity in pensions policy,” Webb said.

David Brooks, head of policy at pensions consultancy Broadstone, also welcomed the decision, given the scale of the reforms already under way.

“There is a big opportunity – through the expansion of CDC, unlocking surplus capital and delivering pensions dashboards, to name just a few – to make a tangible difference to workers, savers, providers and UK plc,” he said.

Brooks added that pension policy required “focus and consistency” to ensure reforms produced a sustainable and trusted retirement savings system.

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