Stephen Timms named as UK WPC chair

UK Labour MP for East Ham, Stephen Timms, has been named as the new chair of the Work and Pensions Select Committee.

Reported in our sister publication, Pensions Age, his appointment was announced by the Speaker yesterday (29 January) following a parliamentary ballot.

He takes the role after Frank Field lost his parliamentary seat of Birkenhead in the most recent General Election (12 December 2019) after 40 years as the town's MP and had to step down as the committee chair.

Commenting on his appointment, Timms said: "It's a huge privilege to be elected chair. The committee has a great deal on its plate in this parliament.

"We will play a constructive role, particularly in ensuring - as MPs across the House intend - that out constituents experience of Universal Credit is taken fully into account as rollout proceeds."

Timms, who had the support of Hilary Benn and David Lammy, has been Minister for Pensions twice.

He was also Shadow Minister for Pensions in 2010-2015 and chairs the Parliamentry Labour Party’s backbench DWP Committee.

On pensions, he stated: “The committee’s important work in monitoring progress with auto-enrolment and the pensions dashboard must continue. I welcome the cross-party consensus in favour of collective defined contribution pensions.

“Too many of those taking advantage of pension freedoms have fallen prey to fraudsters. The committee should review the protections and support in place for savers.”

The unsuccessful candidates were MP for Oldham East and Saddleworth, Debbie Abrahams, MP for Rhondda, Chris Bryant, and MP for Westminster North, Karen Buck.

    Share Story:

Recent Stories


Podcast: The benefits of private equity in pension fund portfolios
The outbreak of the Covid-19 pandemic, in which stock markets have seen increased volatility, combined with global low interest rates has led to alternative asset classes rising in popularity. Private equity is one of the top runners in this category, and for good reason.

In this podcast, Munich Private Equity Partners Managing Director, Christopher Bär, chats to European Pensions Editor, Natalie Tuck, about the benefits private equity investments can bring to pension fund portfolios and the best approach to take.

Podcast - The power of three: Using Common Contractual Funds to improve tax outcomes for investors
Large asset owners are still investing in equities in a way where they are taxed on their income. The implication is that they get a poorer return. They need to, and can, improve this, but how?

In this podcast, AMX Head of Client and Manager Development, Aaron Overy, and AMX Product Tax Specialist, Kevin Duggan, discuss with European Pensions Editor, Natalie Tuck, about three options to help ensure good withholding tax outcomes for institutional investors.
Mitigating risk
BNP Paribas Asset Management’s head of pension solutions, Julien Halfon, discusses equity hedging with Laura Blows

Europe’s pensions challenges
Francesca Fabrizi meets Matti Leppälä, Secretary General and CEO of PensionsEurope, to discuss the key aims and objectives of the association today.