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 AvatarAdam Boyden 27th Nov - 3:18pm
    This is very good to see Tim. The Govt need to be much more responsible for where our weapons of war end up, and who...
  • User AvatarHelen Dudden 27th Nov - 3:12pm
    The new MP for Bath Ben Howlett has just donated his pay rise to the homeless and hungry children, that's a positive start. Are any...
  • User Avatarnvelope2003 27th Nov - 3:10pm
    Labour has been increasing its vote in by elections in the South and South East
  • User AvatarPHIL THOMAS 27th Nov - 3:06pm
    Looks like Labour are in melt down in Oldham. I suspect UKIP are likely to squeeze all the anti Corbyn votes. Watch out for a...
  • User AvatarEddie Sammon 27th Nov - 2:41pm
    The security industry is nearly all against airstrikes. From what I can see. They don't suggest many alternatives though. There is a lot of outrage...
  • User AvatarRuth Bright 27th Nov - 2:34pm
    It is completely wrong to accuse Tim of being tokenistic or putting patients at risk. The current rules are discriminatory and limit the supply of...