Royal London set to hire ex-pensions minister Webb - report

Former pensions minister Steve Webb is on the verge of joining Royal London, a company which last year criticised his charge cap policy as "headline-grabbing", according to reports.

Webb, who oversaw the introduction of the pensions freedoms reforms during his time as part of the coalition government before losing his seat in May’s general election, is preparing to accept an industry role, according to the Financial Times. Royal London, the £86bn mutual, will create a new role for Webb, the paper said. The hire follows ex-shadow pensions minister Gregg McClymont joining Aberdeen Asset Management as head of retirement savings earlier this month. The mutual has previously voiced its opposition to the pensions charge cap introduced by Webb during his tenure in gover...