DWP

Amber Rudd has resigned as secretary of state for work and pensions with immediate effect, with Thérèse Coffey named as her successor.

The Pensions Ombudsman (TPO) must make significant changes to its leadership structure in order to provide "additional insight… and more challenge on organisational strategy", a governmental evaluation has concluded.

The government is looking to bring forward legislation to give The Pensions Ombudsman (TPO) additional powers, including an early resolution function, "in due course".

The Pensions Regulator (TPR) is inviting responses from pension trustees and advisers in a consultation on four draft guides to support tougher investment governance rules.

Guy Opperman will remain in post as pensions and financial inclusion minister, it has been confirmed.

Amber Rudd has not been moved out of her job as secretary of state for work and pensions amid concerns the pensions industry could have had its seventh politician in that office since the 2015 general election.

Removing liquidity restrictions would enable DC funds to capitalise on the potentially higher and safer returns that DB schemes have benefitted from, says Patrick Marshall.

Shadow pensions minister Jack Dromey has called for a fiduciary college within a university to serve for member-nominated trustee (MNT) training, amid the regulator's increased calls for professionalism.

The government has been accused of "dragging its heels" on pensions equality after ruling out amending the law to provide for higher survivor benefits for widowers.

Pension fund investors could face further disclosure requirements on ESG matters as an industry working group considers fresh law for trustees for as soon as next year.