Pensions minister Guy Opperman resigns

Longest-serving minister for pensions

Jonathan Stapleton
clock • 1 min read
Pensions minister Guy Opperman resigns

The minister for pensions and financial inclusion Guy Opperman has resigned after 1,850 days in office.

Opperman - who began his role as pensions minister on 14 June 2017 and took over from Sir Steve Webb as the longest serving pensions minister on 11 June this year - said on Twitter, that it "has been a honour, and a great responsibility to serve as a minister, but we need leadership change, and I have resigned".

During his term as minister, Opperman has overseen significant progress on pensions dashboards; put in place the legal framework for collective defined contribution (CDC) schemes; and has also been known for his work on climate change, with the UK becoming the first major economy to mandate Taskforce on Climate-related Financial Disclosure rules reporting for its pensions sector during his tenure.

Professional Adviser's sister title, Professional Pensions' Pensions Buzz pundits voted Opperman as the most influential figure in pensions earlier last year - the only figure to come in ahead of newly-resigned former chancellor Rishi Sunak.

Critics, however, have pointed towards Opperman's lack of progress on auto-enrolment, highlighting the failure to even begin the implementation of the 2017 review. Opperman has also received criticism over state pension errors, his stance on annual allowance and lifetime annual allowance rules, and his support for mass scheme consolidation in both the defined benefit and defined contribution sectors.

More on Pensions

Labour scrapping higher rate pensions tax relief is 'politically unlikely'

Labour scrapping higher rate pensions tax relief is 'politically unlikely'

Despite being ‘potentially lucrative’

Isabel Baxter
clock 30 September 2024 • 4 min read
Failed Hartley Pensions clients face months-long SIPP transfer document delays

Failed Hartley Pensions clients face months-long SIPP transfer document delays

Frustrated client notes that communications were promised from April to June

Isabel Baxter
clock 29 August 2024 • 3 min read
British Steel pensions transfer advice debacle in numbers

British Steel pensions transfer advice debacle in numbers

‘The FCA continues to pursue those who gave poor advice’

Isabel Baxter
clock 29 July 2024 • 3 min read

In-depth

Sustainable financial planning and SDR: 'It is no longer optional'

Sustainable financial planning and SDR: 'It is no longer optional'

‘If advisers aren’t taking this seriously, they are in breach of the FCA rules’

Isabel Baxter
clock 28 November 2024 • 6 min read
Analysis: Advice M&A continues apace as FCA review looms

Analysis: Advice M&A continues apace as FCA review looms

Firms taking very different approaches to buying and selling

Isabel Baxter
clock 18 November 2024 • 7 min read
Your Autumn Budget briefing: Tax and pensions changes Labour could have in store

Your Autumn Budget briefing: Tax and pensions changes Labour could have in store

Budget comes as prime minister says country 'embrace the harsh light of fiscal reality'

Jen Frost
clock 29 October 2024 • 22 min read