DEFEATED Thornbury and Yate MP Steve Webb has a new job.

The former pensions minister has been appointed director of policy and external communications at pensions and life assurance company Royal London, after losing his seat in the General Election in May.

Liberal Democrat Mr Webb, who lives in Alveston, will take up the role on November 9, six months after being ousted by young Conservative Luke Hall, and the earliest date allowed by the Advisory Committee on Business Appointments.

He will not be allowed to lobby the government for two years due to parliamentary rules.

Chief executive Phil Loney said: "I am delighted to welcome Steve to Royal London. Having debated public policy issues with Steve during his tenure as pensions minister I know that he shares Royal London's values and is a supporter of our customer-owned business model.

"His strong background in public policy and experience in government will be invaluable to Royal London as a thought leader on a wide range of financial issues affecting today's consumer, during a period when building a savings culture is near the top of the public policy agenda."

Mr Webb, 50, lost his seat by 1,450 votes in a shock defeat. His ministerial role went to Baroness Altmann.

He had been the longest-serving pensions minister in the UK and had helped shape radical pension reforms having studied politics and economics at Oxford.

He said: "Having been involved in designing policy in areas such as automatic enrolment I am looking forward to seeing how it is implemented on the front line.

"As someone who has always wanted a better deal for pension savers, the customer-focused ethos of Royal London is a perfect fit with my priorities and I am greatly looking forward to this opportunity.”