Better passionate about pensions than politics

When I had only been writing about pensions for all of five minutes at Financial Adviser, editor Hal Austin sent me to a press briefing in Westminster in the early noughties about the biggest shake-up of pensions in years.

Thanks to the guiding hand of Mr Austin, I suspect I was already more qualified for the job of pensions minister than the gentleman sat before me was.

When asked basic questions about certain pension taxation changes, he continuously had to glance to the DWP and HMRC staff stood by his side to get the answers. I got the impression I was more interested in the subject than he was.

Perhaps he had taken on the job in the hope of impressing the prime minister and further climbing up the political ladder.

During Labour’s revolving door approach to the job, I rarely met any individual holding that post who knew – let alone seemed able to convince me they cared – about your client’s savings pots and retirement income options.

Earlier this week current pensions minister Ros Altmann came under fire for being a member of multiple political parties.

The Huffington Post reported she had been a ‘fully paid up member’ of the Labour party since March 2014 – despite the fact prime minister David Cameron appointed her pensions minister in his Tory government following their election victory.

Rather than debating her political allegiances, we should be debating what we want her to do now she is in a position of power

Despite much backlash, Ms Altmann hit back at what she described as a ‘storm in a teacup’, and said she had actually joined all three main parties as an independent policy adviser to keep an eye on each one’s policy.

I was introduced to her many years ago by former Financial Adviser editor Kevin O’Donnell, during her days campaigning for those who lost their retirement savings because of the collapse of Equitable Life.

Back then she had advised Tony Blair’s government, which was in charge of Equitable Life’s demise at the time. Despite the relationship with his regime she was still willing to pick through and point out holes in that government’s pension policies.

What struck me most then – and now – is that she is passionate about pensions.

What are Ros’ true political colours?

Quite frankly, I don’t really care.

The important thing is that she understands pensions and wants to know what direction products with this label could be taken to make sure no elderly person is sat shivering at Christmas, petrified to turn on their heating as they have no cash.

Rather than debating her political allegiances, we should be debating what we want her to do now she is in a position of power.

What do you think Ros should do next?

emma.hughes@ft.com