Ros Altmann is new pensions minister

Ros Altmann is new pensions minister
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Ros Altmann has been named as the next pensions minister replacing Steve Webb.

Prime minister David Cameron confirmed the appointment on his Twitter account.

Altmann is not an MP but the Conservatives said previously they would nominate her for a peerage if they won power at the general election, meaning she could become a Cabinet minister.

Altmann describes herself as an "independent policy expert and older workers champion".

But by training she is a City banker, who became an analyst, who then became an economist, working variously at Natwest, Rothschild Asset Management and Chase Manhattan Bank.

She chairs the Lord Chancellor's Strategic Investment board, and is a non-executive director of the press watchdog the Independent Press Standards Organisation.

Altmann was previously director general of the Saga group, which offers a range of products and services for the over 50s.

But her career history is most heavily skewed towards financial services.

For four years under Labour, she was adviser to the Number 10 Policy Unit on the pensions and fund management sectors.

Before that she was a consultant on institutional investment to the Treasury.

In 2014, she was awarded a CBE honour in recognition of services to pensioners and pension provision.

It has previously been confirmed that Iain Duncan Smith will continue as work and pensions secretary at the head of the Department for Work and Pensions.

The Prime Minister earlier confirmed Priti Patel will be minister of state for Employment at the DWP.

She had previously been tipped to be in the running for the pensions minister post.

 

Altmann tweeted: 

 

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