Thirteenth duo spells more uncertainty for pensions

Steve Bee, Head of Pensions Strategy at Scottish Life has expressed his concern at the lack of continuity in the leadership of our pensions system.

The appointment of James Purnell marks the thirteenth change and pairing of Ministers leading the agenda.

Steve Bee commented: “Since May 1997, when Harriet Harman and Frank Field became the first pair at the pensions helm, only once have the same two Ministers -- Alasdair Darling and Jeff Rooker – remained in post for more than 18 months. On average the pairings have lasted less than nine months.

“This merry-go-round speaks volumes about pensions and their importance on the political agenda. Although Mike O’Brien will provide some stability by remaining in post to support James Purnell, this is the thirteenth change in just under eleven years and my guess is that we’re likely to see more changes before the year is out. This lack of continuity at the top provides a further blow to the chances of the Government delivering workable pensions reform.”