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 AvatarGlenn 26th Feb - 11:28pm
    David Raw, If they want another referendum that's up to them , but at the moment they're still British and 30 odd percent of them...
  • User Avatarfrankie 26th Feb - 11:26pm
    Oh and I read the Scottish independence white paper, if that isn't a wish list and a flight of fantasy well I don't know what...
  • User AvatarLorenzo Cherin 26th Feb - 11:24pm
    Eddie If you ever again say you are not one of the best mannered on here when I defend you, and if a certain lordly...
  • User Avatarfrankie 26th Feb - 11:22pm
    @David Raw I've read wings over Scotland need I say more.
  • User AvatarDavid Raw 26th Feb - 11:05pm
    @ Simon Banks.......Apologies. Living in the past again. Should be 2020. Back in 1920 some Libs were in the Lloyd George/Tory coalition, whilst the Asquith...
  • User AvatarSimon Banks 26th Feb - 10:33pm
    I know many people concluded we were too rushed in agreeing to the coalition in 2010, but what's this coalition we're considering joining in 1920?