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 AvatarTony Greaves 3rd Dec - 7:29pm
    I enjoyed singing along to a small jazz combo on the District Line this week (Hit the Road, Jack; O When the Saints...; and two...
  • User AvatarKatharine Pindar 3rd Dec - 7:19pm
    Thank you very much, Catherine, I have been absorbing the statements of both Tim and our new MP from yesterday's joyfulness, and the key words...
  • User AvatarDavid Pearce 3rd Dec - 7:12pm
    William Ross, the analysis done by pollsters says that 90% of people who believed they would be better off financially with Remain or Leave, voted...
  • User AvatarAndrewR 3rd Dec - 7:02pm
    Although I never had to resort to begging I have been homeless. I always give money. Personally I would find it patronising to do otherwise....
  • User AvatarKatharine Pindar 3rd Dec - 6:57pm
    @ Lorenzo Cherin - hi, Lorenzo! I have no expertise and less experience than you and others in this thread, which I am reading with...
  • User AvatarEddie Sammon 3rd Dec - 6:44pm
    I support Trump's phone call with the Taiwanese president. We need to support Hong Kong, Taiwan, Tibet and all those who want democracy (through peaceful...