Torsten Bell has been formally reappointed as pensions minister, to serve in the same position in Andy Burnham’s cabinet as he did under previous prime minister Keir Starmer.
Bell is considered a rising star within the Labour Party, and had been touted as an outside possibility to replace Rachel Reeves as Chancellor (the position instead being taken by former defence minister John Healey).
His reappointment may also signal some stability in the role, there having been four pensions ministers in less than two years prior to his appointment in January 2025.
During his time as pensions minister, Bell oversaw the passage of the Pension Schemes Act, which included the hotly debated mandation clause, legislation that can ultimately force UK pension schemes to invest in private markets if the government deems necessary.
A Pensions Commission is also currently underway, with the interim report pointing to a chronic under saving issue within ordinary employees, and final publication due next year.
Steve Webb, former pensions minister and now a partner at consultancy Lane Clark & Peacock, says: “Whilst this is a no-doubt temporary pause in the meteoric rise of an ambitious and talented minister, my view is that this is good news for the pensions world.
“Though I don’t agree with all aspects of the Government’s pensions agenda (mandation? poor decision on small pot consolidation? too cautious on DB surplus?), it has to be welcome to have continuity in a post that has too often been a ‘revolving door’. We can expect to see both the pensions ‘road map’ pursued with vigour and also the outcomes of the Pensions Commission turned into legislation next year.”
Calum Cooper, head of pension policy innovation at Hymans Robertson, also welcomed Bell’s reappointment to the role.
“With a substantial programme of reform already underway, the continuity provides an opportunity to maintain momentum and focus on delivery. We have seen significant progress across a range of policy areas, from pensions adequacy and retirement outcomes to productive finance and pensions dashboards. The priority now should be turning proposals into tangible improvements for savers.”
Pat McFadden has also been kept in his role as secretary of state for work and pensions, a position he has held since September 2025.
McFadden has recently faced controversy when, as part of the Mandelson files, it was revealed that he had claimed “every meeting I have is “who can we tax in order to pay benefits to others.” As part of the same files, Bell referred to his role as pensions minister as “safe politically.”
