U.K. names new pensions minister
Paul Maynard was named U.K. pensions minister following a reshuffling of the government.
Read more @pionline
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.
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.
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 more @pionline
Korea is on course to have the world’s oldest population by 2060, overtaking Japan. The projection is more than... read more
The UK was one of only two major pension markets to record a decline in assets over the past... read more
The world’s top 300 pension funds experienced the fastest growth in assets since 2017, according to the latest report... read more
A recent survey of more than 550 US employers by WTW has exposed an uncomfortable truth at the centre... read more
How much of your paycheck would a pension replace in retirement? Depending on the country, the answer ranges from... read more
Staff at Ethical Forestry always knew when their bosses were around. Even though the business was on the top floor... read more
The greater use of collective pension vehicles, including collective defined contribution (CDC) schemes and pension superfunds, could improve saver... read more
The Danish pensions industry has met its 2019 joint commitment to invest DKr450 billion ($70.1 billion; €60.2 billion) in... read more
“If this is the case, they shouldn’t have touched it at all… They’ve kept the structure intact while only... read more
For many state pensions that sought growth outside the U.S., the bet is paying off. Strong gains in non-U.S. and... read more
