Pensions minister Steve Webb loses seat to Conservatives

Jenna Towler
clock

Liberal Democrat MP Steve Webb, who has served as pensions minister for the last five years, has lost his parliamentary seat.

The long-serving Lib Dem lost his Thornbury & Yate seat to Tory Luke Hall.  Hall got 19,924 votes compared to Webb's 18,429, which was 14% down on the last election. The Conservative vote was up 4% with UKIP also making significant gains.  Webb was the longest serving pensions minister with his five-year stint.  His major policy pushes included reform of the state pension and integrating George Osborne's pensions freedom policy. Portal Financial managing director Jamie Smith-Thompson has warned of a period of uncertainty following Webb's ousting from the Department for Work a...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

FCA to crack down on life insurers with 'slower' pension transfer service times

FCA to crack down on life insurers with 'slower' pension transfer service times

Regulator warns slow pension transfers risk harming client outcomes

Isabel Baxter
clock 15 August 2025 • 5 min read
Tony Müdd: The QROPS market is dead, isn't it?

Tony Müdd: The QROPS market is dead, isn't it?

'The tax a member pays on their QROPS income hinges on a dizzying array of factors'

Tony Müdd
clock 11 August 2025 • 11 min read
Average pension transfer times fall

Average pension transfer times fall

Origo data suggests simpler pension transfers average 10.8 days

Martin Richmond
clock 11 August 2025 • 2 min read