New pensions minister appointed: Expert reaction

Following the announcement that Emma Reynolds has been appointed the new pensions minister Lily Megson, Policy Director at My Pension Expert, said: “After a decade of endless switches and flip-flopping with the role of pension minister, we hope this marks the beginning of a term that establishes clear, long-term pension policies.

“Reynolds will have her hands full, needing to address the lengthy backlog of delayed policies and initiatives left by the previous government. The upcoming pensions review, as pledged in Labour’s manifesto, must be handled with precision. Tackling the pension engagement crisis, the ever-growing advice gap, resolving the issue of small pots, and improving pension transfers are just a few of the critical areas that need attention.

“We welcome Emma Reynolds to the job and look forward to seeing the positive impact her experience will bring. A dedicated pensions minister with a clear action plan is vital to providing Britons with the knowledge and tools needed for financial security in retirement. Crucially, this includes collaborating closely with the private sector to ensure policies are practical and effective. After a prolonged period of instability and disillusionment, it’s time for definitive action.”