Sir Stephen Timms says he would expect the new government to respond to the Work and Pensions Committe’s defined benefit inquiry, for which a response is currently overdue.   

The deadline for the government to respond to the Work and Pensions Committee’s defined benefit inquiry was on 26 May, but with parliament now dissolved until a new one is elected on 4 July, it is unclear if a future government will respond and who will be sitting on the committee. The content of any response will also need to be approved by the newly appointed ministers.  

However, Sir Stephen said: “I would expect the new government to honour the commitment to publish a response to our report.”  

The Pensions and Lifetime Savings Association is also hoping that any new government will respond to the inquiry. Joe Dabrowski, deputy director – policy, said DB schemes are "of vital importance to the UK economy", and that the recommendations set out by the Work and Pensions Committee highlighted key areas for improvement within the regulatory framework.

"It is a shame that the general election meant the government was unable to respond to these. We hope that this matter is revisited when parliament returns and a new timetable for implementing the new code is decided," he said.

It is yet to be decided who will chair the committee under a new government. Sir Stephen, who was its most recent chair, is standing again for Labour in the East Ham constituency he has represented since 1994, launching his campaign last Saturday.   

During Sir Stephen’s recent tenure as chair, the committee completed a three-part inquiry into protecting pension savers, which concluded that government should examine the case for increasing auto-enrolment minimum contributions "before it is too late”.   
   

   

He also chaired an inquiry into liability-driven investments following the Bank of England intervention in the gilts market in autumn 2022. This was followed by a broader DB inquiry and a non-inquiry session on fiduciary duty. A further pensions inquiry related to the Norton Motorcycles pension fund, where an employer defrauded scheme members in 2012.
   

   

   

 

Sir Stephen was previously chief secretary to the Treasury and minister for employment and welfare reform, among others. In opposition in 2015, he was briefly the acting shadow work and pensions secretary.