Pensions minister Mike O'Brien has been moved to the energy and climate change department as part of a cabinet reshuffle that has dealt a fresh blow to UK pensions reform.
O’Brien, minister of state for pensions reform since June last year and described as a “safe pair of hands”, will be replaced by ex-Transport minister Rosie Winterton. His departure follows news Paul Myners is to resign as chairman of the Personal Accounts Delivery Authority (PADA) after being appointed Minister for the City by Gordon Brown. Myners's departure will be a blow for personal accounts as he is one of the most experienced figures in the pensions industry. However, his tenure has not been without controversy including confusion over the role of PADA in identifying good pension s...
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