New work and pensions secretary Peter Hain faces a number of challenges as he steps into John Hutton's shoes following Gordon Brown's cabinet reshuffle.
Stewart Ritchie, director of pensions development at Aegon, told IFAonline: "Hain certainly faces some difficult challenges but if he brings the same enthusiasm and determination to tackling them as he did to tackling apartheid and the Northern Ireland peace process we can be optimistic for his chances of success. “Hutton has started off a process of pension reform which promises to deliver great things. And when taken together with other initiatives such as the Retail Distribution Review and the Thoresen review of generic financial advice it could significantly improve pension savings ...
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