Commenting on the news that Alex Burghart has been appointed Minister for Pensions and Growth, Patrick Bloomfield, Partner, Hymans Robertson says:

“Now that we learn that Alex Burghart has been appointed as the Minister of Pensions and Growth we look forward to working with him in his new role. He enters this post at a worrying time, with Bank of England’s emergency bond buying scheme concluding within days. Further challenges await the new minister with the current cost of living crisis continuing to grow, but we believe there is an opportunity to make a strong and committed start to his role, through learning about how policy decisions impact the end user and listening to industry concerns about existing policies.

“Clarity on timing for key regulatory changes such as Triple Lock, the pension dashboard and the DB Funding Code would be much welcomed by many, and a strong sign of the new Ministers commitment to pensions as they begin their new term in office. We urge the incoming Pensions Minister to listen to industry concerns about implementation of existing policies. Pensions dashboard roll-out and DB funding regulations need an urgent rethink so their introduction achieves the long-term policy goals without unintended short-term consequences. We are also keen to hear his response on the Work and Pensions Committee’s recommendations on solving the gender pensions gap.”