Paul Maynard MP, 47, has been appointed as the new Pensions Minister at the Department for Work and Pensions.

A new Pensions Minister has been appointed after previous incumbent Laura Trott MP was promoted to be Chief Secretary to the Treasury in today's Cabinet reshuffle.

Pension schemes and trustees - including NEST - could get new responsibilities to offer decumulation options to members at retirement.

Pensions Minister Laura Trott has told a pension industry event there is “no easy solution” to the pension gender gap.