Tag Archives: pensions

Steve Webb talks about how a pension age “bad decision” was resolved

We’re hearing quite a lot about the ins and outs of the coalition government these days. Yesterday it was Vince talking about his relationship with Osborne or lack of it. Today, Steve Webb has been speaking to the Institute of Government about his experience as Pensions Minister.

Widely regarded as one of the most successful coalition ministers, Steve Webb reformed the Pensions system, making sure everyone has access to a workplace pension, introducing the triple lock to stop the paltry increases of Labour years and enabling people to access their pension fund early if they need to.

He specifically referred to a situation early on when ministers and made a decision about raising the pension age and had to later change their minds when it became clear how badly some women were going to be affected.

Posted in News | Also tagged and | 5 Comments

Steve Webb on taking a chance to set pensioners free

Steve Webb, pensions minister, is interviewed in the Observer in the run-up to the big pensions change:

Plans to give millions of people powers to get access to their pensions savings from 6 April are a calculated risk, the minister in charge of the biggest pensions shakeup in decades has admitted.

Posted in News | Also tagged | 38 Comments

Tories try to take credit for Lib Dem Steve Webb’s Pensions Triple Lock

As the election campaign hots up, all the parties are emailing those who have signed up to their email lists on all sorts of issues.

In the past few days, we’ve seen one from Harriet Harman admonishing the recipient for not responding to Labour’s opinion survey. It had one question, basically “Are you voting Labour?” There wasn’t even a “maybe” option.

We’ve seen a missive David Cameron (or his digital equivalent) has emailed to his distribution list to take credit for the pensions triple lock. The wording looks like it’s been copied and pasted from a Liberal Democrat equivalent.

Now, everyone knows that that was Liberal Democrat pensions guru Steve Webb’s idea. If you look in the 2010 Tory manifesto, you see a commitment to restoring the link to earnings, but that’s about it.

In contrast, this is what the Lib Dem manifesto had to say:

Posted in News | Also tagged , and | 16 Comments

Opinion: Why it is wrong to enshrine the “triple lock” in law

pensionsOne of the now regular flow of “policy announcements” from the leadership calls for the 2010 ‘triple lock’ to be enshrined in law.  Passing for a moment over the fact that these “announcements” are of course nothing of the sort and discourteous to Conference which passes policy, (though, to be fair, as Mark Pack and others have pointed out, Steve Webb has been careful to avoid language some others have used that suggests these policies have been agreed without the party having a say), I think it’s the wrong idea.

Why? …

Posted in Op-eds | Also tagged , and | 32 Comments

Steve Webb writes… Lib Dems will write the pensions ‘triple lock’ guarantee into law

webb 01For decades, successive Labour and Conservative governments allowed the state pension to decline after Margaret Thatcher broke the ‘earnings link’ in 1980. The nadir of this was in the Labour years, when Gordon Brown increased the state pension by just 75p a week.

I was determined that the Liberal Democrats would do something about this appalling situation. In our manifesto in 2010 we campaigned on a ‘triple lock’ guarantee. This was a commitment that the pension would rise by whichever rating was highest in each year – by earnings, prices …

Posted in Op-eds | Also tagged and | 24 Comments

Steve Webb: Pensions minister with the future of millions in his hands

webb 01In a profile in the FT, Pensions Minister Steve Webb is described as “one of the Coalition’s most hyperactive lieutenants”.

Now Steve is highly efficient and has achieved a huge amount since he took on the role four years ago, but he is also unflappable and “hyperactive” is not a term I would normally use about him. And whilst the term “lieutenant” usually refers to someone who is second in command, which is technically correct for a Junior Minister, no-one in Government beats his deep knowledge of his subject.

Posted in News | Also tagged | 4 Comments

Opinion: The most positive change for private sector pensions in half a century

webb 01The announcement in the Queen’s Speech of a new ‘Collective Defined Contribution’ pension is an historic achievement on the part of Lib Dem Pensions Minister Steve Webb, which shows that pensions are only safe in Liberal hands. It will bring about better quality pensions for millions in the private sector workforce. It’s taken him four years to arrive at this historic moment which starts to rectify the damage the Tories and Labour wrought on the retirement hopes of ordinary private sector workers.

Posted in Op-eds | Also tagged , and | 5 Comments
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