GUEST COMMENT: Not another Pensions Minister

Written by Molins UK Pension Fund MNT director Steve Wickham

‘Oh no!’ was my first reaction, not another change at the top, as it was announced on 14 June that Richard Harrington had moved from the Department for Work and Pensions.

The precise title our ‘pensions minister’ has been given by successive governments seems to keep changing along with the incumbent, but having enjoyed a fairly long period of stability with Steve Webb at the helm from May 2010-May 2015 we seem to have soon reverted to the ‘revolving door’ policy of previous regimes, with both Ros Altmann and Richard Harrington only lasting approximately one year each.

Having attended the AMNT meeting where Richard Harrington gave a speech, I felt he was impressive, but now he’s gone, so we wait to see if the next minister will stay around longer.

Being on the cusp of my 65th birthday, retiring from my job and becoming an old-age pensioner is a major change in my life. However having been a member nominated trustee for 18 years, it is my intention to carry on this role for the foreseeable future.

Free from the restriction on the amount of time away from my day job on pensions business, I will now have more opportunities to attend industry conferences and seminars, helping me keep up to date with all the changes and investment challenges that all trustees face.

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