Tag Archives: saga

LibLink | Steve Webb fears poor rap for pensions

FTAdvisor.com reports:

Steve Webb MP has raised fears about pensions’ poor image and how low interest rates and quantitative easing have damaged annuities. The Pensions Minister, who said the government is going to use employers to promote pensions and auto-enrolment, described auto-enrolment as being like a Ming vase – “very precious, but very fragile”.

He added he wants to change perceptions and instil confidence in retirement planning to ensure that charges are not too high and that pensions offer value for money. He said: “We need to move from a system that’s fiendishly complicated, that still leaves millions of pensioners living in poverty, to one, ideally, where we have a single, simple, decent state pension on which people can build.” …

He also said quantitative easing has damaged pensions. When asked about concerns over annuity risk given low interest rates and quantitative easing, the Minister admitted to “an issue about volatility, not knowing what you are going to get and an issue about poor returns.”

You can see Steve’s interview with Saga’s Director-General Ros Altmann below:

Posted in LibLink and YouTube | Also tagged , and | Leave a comment
Advert



Recent Comments

  • User AvatarMartin 2nd Aug - 5:05pm
    It is very clear that the UK is not pulling its weight in the EU. On the news today we heard that Sweden is taking...
  • User AvatarMavarine Du-Marie 2nd Aug - 4:57pm
    Better yet, why don't females who menstruate learn to use a 'Moon Cup' which is environmentally friendly. https://en.wikipedia.org/wiki/Menstrual_cup
  • User AvatarSimon Arnold 2nd Aug - 4:56pm
    John Tilley. As a Liberal Democrat member, I am horrified that any Liberal, Liertarian or Conservative, would want to nationalise as much as he does....
  • User AvatarKaterina Porter 2nd Aug - 4:48pm
    "Welfare" is a misuse of language. The biggest item in the welfare budget is state pensions and everybody pays National Insurance towards this.
  • User AvatarStephen W 2nd Aug - 4:39pm
    Any party that makes it's main electoral pitch constitutional reform is even more doomed than Labour under Jeremy Corbyn. And that's saying something.
  • User AvatarT-J 2nd Aug - 4:28pm
    Corbyn is a good choice for Labour if they're after appealing to an enthusiastic Socialist base and securing a good, solid bloc of support as...