Regulation  

Labour shadow pensions minister resigns

In November of that year he said the government needed a better long term pension strategy to entice people to save and should give pension scheme members a "greater say" in governance.

Mr Cunningham also spoke out about the British Steelworkers pension crisis, saying people needed to be given better access to help when decisions need to be made quickly, even if it was guidance not fully regulated advice.

Last December he called for tougher regulation for workplace pensions, saying the UK pension system was no longer “properly geared to the interests of people”.

Despite this, Hargreaves Lansdown's head of retirement policy, Tom McPhail, thought Mr Cunningham had not made a huge impact on government policy.

He said: "It takes people time to get up to speed and I don't think he has achieved that yet, he never really got into his stride of putting pressure onto the government."

However, he said the immediate consequence of his resignation would be that the pressure comes off the Waspi and collective defined contribution areas.

"But then the question is what the agenda will be as and when his replacement arrives," he added.

carmen.reichman@ft.com