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  2. DEFINED BENEFIT
June 14, 2017 01:00 AM

Theresa May relocates pension minister

Paulina Pielichata
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    Luke MacGregor/Bloomberg
    U.K. Prime Minister Theresa May

    U.K. Prime Minister Theresa May continued a ministerial reshuffle in the government Wednesday by moving the previous U.K. pension minister, less than a week after the country’s general election.

    Member of Parliament Richard Harrington was moved to the department for business, energy and industrial strategy on Wednesday. A replacement has not yet been communicated.

    It has not yet been announced if Mr. Harrington, who was parliamentary under secretary of state for the department of work and pensions, will be replaced in a similar role.

    Ms. May also appointed MP Guy Opperman to join the department for work and pensions but it has not yet been confirmed that he will take on the role of the under secretary.

    The under secretary’s responsibilities include proposing policy on pension age, pension benefits, private and occupational pensions, automatic enrollment and the National Employment Savings Trust, as well as oversight of domestic pension regulator, The Pensions Regulator, and lifeboat fund for insolvent sponsoring employers, the Pension Protection Fund, said the U.K. government’s website.

    Earlier this week, David Gauke was named the U.K. secretary of state for work and pensions and is in charge of the department’s expenditure and management.

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