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

Joint administrators begin transfer process for Hartley SIPP clients

Joint administrators begin transfer process for Hartley SIPP clients

Comes after the SIPP operator was declared in default by FSCS

Isabel Baxter
clock 05 April 2024 • 1 min read
HNWs not making the most out of increased pension allowance

HNWs not making the most out of increased pension allowance

Only a third have taken advantage of the new £60,000 limit

Isabel Baxter
clock 02 April 2024 • 2 min read
DB pensions industry 'working against' govt finance agenda

DB pensions industry 'working against' govt finance agenda

There is little incentive for schemes not to take risk off the table

Jonathan Stapleton
clock 20 October 2023 • 2 min read

In-depth

Friday Night Takeaway: Is talk of bonds giving you whiplash?

Friday Night Takeaway: Is talk of bonds giving you whiplash?

The editor's Friday Night Takeaway from 12 April

Hope Coumbe
clock 12 April 2024 • 1 min read
Schroders Personal Wealth five years on: Did it change the game?

Schroders Personal Wealth five years on: Did it change the game?

'Perhaps more evolution that revolution in the market'

Justin Cash
clock 12 April 2024 • 4 min read
Firefighter to adviser: Ian O'Dowd on assessing the situation

Firefighter to adviser: Ian O'Dowd on assessing the situation

‘I don’t go into burning buildings to save financial plans, but the same ethos rings true’

Isabel Baxter
clock 10 April 2024 • 4 min read