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 AvatarMartin Gentles 19th Apr - 10:50pm
    Certainly RE should be included in a civic minded curriculum. The question isn't religious education, the question religious selection in education. This can inculcate social...
  • User AvatarRadical Liberal 19th Apr - 10:01pm
    'Indeed. So do we really need another one in a position of power and influence?' Don't you believe in balance and a diversity of views?...
  • User AvatarSimon Shaw 19th Apr - 10:01pm
    Just to point out that it is not £3,600 NET, it is £3,600 GROSS. In other words, £2,880 NET. It's available for everyone, including children.
  • User AvatarAmalric 19th Apr - 9:42pm
    Sir Archibald Sinclair in the first clip said, “Freedom is what it (Liberal Party) fights for. Our goal is a new Britain … - well...
  • User AvatarEddie Sammon 19th Apr - 8:41pm
    As far as I know the £3,600 rule is still in effect. I've checked HMRC, but I've made a mistake in the past by assuming...
  • User AvatarStephen Howse 19th Apr - 8:12pm
    Indeed. So do we really need another one in a position of power and influence?