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 AvatarJohn Death 24th Sep - 10:41pm
    Oh Glenn, this isn't what I was saying. There is a difference between voting behaviour in districts with grammar schools in England compared with those...
  • User AvatarGlenn 24th Sep - 10:18pm
    Alistair. I'm not saying there shouldn't be compromises. I just question the accuracy of Osborne's statement given that Cameron, PM at the time, stated that...
  • User AvatarBill le Breton 24th Sep - 10:14pm
    Tony just to make sure we agree what we are disagreeing about: I am totally opposed to Paddy's so called 'progressive platform' - see my...
  • User AvatarDJ 24th Sep - 9:55pm
    Osbourne benefited from extremely negative and misleading campaigning and now is offering warnings having lost under similar conditions? The Remain campaign did not properly warn...
  • User AvatarAlistair 24th Sep - 9:54pm
    Glenn, many of the leavers said we would be like Norway or Switzerland. Not like Algeria.
  • User AvatarJohn Mitchell 24th Sep - 9:50pm
    I'd think that the Conservative party is more fertile ground for acolytes of Blairism. Vacuous politics only works for a limited time and even Blair's...