The Labour MP, Torsten Bell, has been appointed as the UK's Pensions Minister after former Pensions Minister, Emma Reynolds, was named Economic Secretary to the Treasury.

Reynolds has become Economic Secretary to the Treasury following the resignation of Tulip Siddiq.

Bell was elected as MP for Swansea West in the July 2024 general election and was Parliamentary Private Secretary to the Cabinet Office from the election until his appointment as Pensions Minister.

Prior to becoming an MP, Bell was the chief executive of the Resolution Foundation from 2015 to 2024.

Before his work at the Resolution Foundation, Bell had served as Ed Miliband’s director of policy and as a Treasury civil servant.

He was also a special adviser to Alistair Darling during the 2008 financial crisis.

Reynolds was Pensions Minister from July 2024 until her appointment as Economic Secretary to the Treasury, during which time several Labour policy initiatives were introduced, including the Pension Schemes Bill and Pensions Review.

"Torsten Bell will arrive at DWP with a deeper knowledge of pensions than many of his predecessors,” commented LCP partner, Steve Webb.

“In particular, his time at the Resolution Foundation included publishing a number of reports on pensions and savings issues which means he may well already have strong views on many topics.

“This should also mean that the time it takes him to master his new brief will be considerably shortened. His many years as a Whitehall insider also means that he know how to get things done within government and hopefully that should mean that the status of pensions policy within government is enhanced as a result.”

Pensions and Lifetime Savings Association director of policy and advocacy, Zoe Alexander, added: “We wish Emma Reynolds luck in her new role as Economic Secretary to the Treasury and thank her for her strong leadership during her time as Minister for Pensions.

“Emma has been highly engaged with the industry, helping to progress some critical reforms with dedication and insight. We look forward to continuing to work with her in the future.

“We welcome Torsten Bell as the new Minister for Pensions and look forward to engaging with him on the Pensions Review in what is a critical year for pensions policy.

“Torsten is already well known and respected within the pensions industry. We are optimistic that he will bring the leadership that is needed to make progress on both phases of the Pensions Review and look forward to working with him to continue to deliver a system that is adequate, affordable and fair, in the interests of UK savers.”

This article was first published on our sister website, Pensions Age.

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