The new Prime Minister, Gordon Brown, has appointed Peter Hain to the post of Secretary of State for Work and Pensions, replacing John Hutton who took the job in November 2005. Peter Hain is the former Northern Ireland secretary. Also, Alastair Darling has been appointed as Chancellor of the Exchequer. Mr Darling is already familiar to the pensions industry, having served as Work and Pensions secretary from 1998 to 2002.