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:

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Recent Comments

  • User AvatarAl 25th Jun - 9:25am
    In the world of this article, democracy is nine wolves and a highland cattle voting on what to have for lunch and inviting us to...
  • User AvatarNeil Sandison 25th Jun - 9:19am
    It is now time to build a new social liberal coalition .A brexit led conservative government will drag us back to the 1980s .We cant...
  • User AvatarPeter Davies 25th Jun - 9:10am
    At every election in my lifetime the people have spoken and by much larger majorities they have said "we don't want to be represented by...
  • User AvatarGlenn 25th Jun - 9:08am
    Neil, Are we supposed to applaud your vindictiveness?
  • User AvatarMichael BG 25th Jun - 9:03am
    @ Alderman David Becket I think it is immoral to ignore the majority of the voters in the referendum. I think lots of people who...
  • User AvatarJane Ann Liston 25th Jun - 8:51am
    By the way, it's soft pedalling, not soft peddling.