Tag Archives: pension

Mary Reid

Steve Webb challenges pension industry to provide ‘money-safe’ pension scheme

By Mary Reid | Tue 3rd July 2012 - 4:08 pm

Steve Webb, the pensions minister, is addressing pension executives today and will be challenging them to provide a money-back guarantee to everyone who will be saving for their pensions through a new workplace defined contributions plan. This kind of scheme would ensure that people get back, as a minimum, the value of the contributions they have paid in.

This is one of several proposals which will be consulted on later in the year. Other ideas include collective risk sharing, which allows pension companies to pool their accounts and share the investment …

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