Britain 's leading pensions and savings expert will today be announced as a new Conservative peer , who will appointed as Minister for Consumer Protection if the party wins the election . Dr Ros Altmann , a former Treasury adviser who went on to head over-50s group Saga , would take responsibility for protecting people from rip-off pension and mortgage charges . She would also be in charge of financial education and Government policy to reward and encourage saving . Dr Ros Altmann , pictured with David Cameron at Melbicks , a Wyevale Garden Centre in Birmingham , will today be announced as a new Conservative peer . Dr Altmann will oversee the Government ’ s pension reforms , which have allowed people to cash in retirement funds rather than being forced into buying often poor-value annuities . She will also steer through reforms designed to make it easier for customers to move to another bank , by allowing customers to take their account number with them . ‘ For too many years , consumer rights have played second fiddle to the interests of large financial firms , but the new pension freedoms show that the Conservatives have put the interests of British savers first , ’ Dr Altmann said . ‘ I passionately believe the new pension reforms , trusting people with their own money , are an essential step to helping everyone make the most of their hard-earned savings . 'David Cameron and George Osborne have proved to me that they want to help the many , not just the few at the top , by giving the same freedoms to everyone as were already enjoyed by the wealthiest . ‘ In doing so , they took on the large companies who had too often taken advantage of their customers and have paved the way for a new environment for long-term savings . The Conservatives have created the opportunity for working families to save more if and when they can , knowing they will be allowed to use the money as best suits their circumstances . Dr Ros Altmann , a former Treasury adviser who went on to head over-50s group Saga , would take responsibility for protecting people from rip-off pension and mortgage charges . ‘ That is right , but of course it will also require a change of mindset from providers and potentially further action from Government to protect consumers . It will be my job to try to ensure customers get a better deal and I am delighted to be offered the chance to do so . ‘ Charge caps , impartial financial guidance , help with financial planning , financial education at all ages , and more competition for savers ’ money will all help and it will be great to have the opportunity to play a direct role in looking after the public. ’ The Prime Minister said : ‘ What we ’ re doing is taking the country ’ s leading expert on pensions , on savings , on financial education , Ros Altmann , and saying that if we ’ re re-elected , she ’ ll be at the heart of government , making sure we complete this great revolution where we ’ re giving people much more power to save , to access their pension , to pass their pension on to their children , because we want to create a real savings culture in our country for everybody . 'Not for the rich at the top , but for everybody who saves or has a pension . ' ‘ This will be good for everybody . We ’ ve got millions more people saving for a pension because of auto-enrolment - having an automatic pension in your workplace - so there are many more people saving . 'There are also great new products like the flexible ISA , a real encouragement for savings with the single tier pension , and now at the heart of government , if we ’ re elected , Ros Altmann - the country ’ s leading pensions , savings , and financial education expert to make sure that we make the most of this great revolution in favour of savings and financial security for many in our country . ’
Dr Ros Altmann will be announced as a new Treasury peer today . She will be appointed Minister for Consumer Protection if Tories win in May . Former Conservative adviser will oversee the Government ’ s pension reforms .