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 AvatarStephen Campbell 23rd Aug - 5:39pm
    Totally with @simon F on this one. Some posts on this thread are not only sadly funny, but quite telling. @AC Trussell says: "It would...
  • User AvatarNicholas Pentney 23rd Aug - 5:35pm
    g 'Can you point to any action Hamas have taken that is inconsistent with this part of their charter?' Yes. There are many. Perhaps most...
  • User AvatarNick Collins 23rd Aug - 5:34pm
    Another derisory result for the concept of directly elected PCCs; one of many of this government's so-called "reforms" which the public did not want and...
  • User AvatarCatherine 23rd Aug - 5:33pm
    Thank you, Mark. An excellent article . "And, if the processes have failed, rather than delivering an outcome you don’t like (not always the same...
  • User AvatarEddie Sammon 23rd Aug - 5:09pm
    I thought this was a good article, but I am disappointed by Callum Leslie's comment that replicates the basic argument of a large number of...
  • User Avatarg 23rd Aug - 4:57pm
    Sarah Noble <The charter of Hamas is a thought-terminating distraction from the real issue. It doesn’t necessarily translate to what their actual political goals are....