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 AvatarLorenzo Cherin 20th Oct - 11:50pm
    Paul and David, at it again, getting me at it too , with much thanks ! A remarkable story , the unplanned speech, don,t ever...
  • User Avatarfrankie 20th Oct - 10:36pm
    Sheila, Time ticks on and everyday the leave case is shot to pieces. As reality bites the only thing that seems to be keeping Leavers...
  • User Avatarfrankie 20th Oct - 10:23pm
    Clegg came from a political bubble with limited inter action with normal people. He also seems to have fallen into a trap one of my...
  • User AvatarKatharine Pindar 20th Oct - 10:19pm
    Well said, David! Long may you continue act as usefully as you do. Michael, thank you for pointing out what was already known about Palehorse...
  • User AvatarPeter Hayes 20th Oct - 9:28pm
    As my parents are both dead it is probably safe to say they remember me saying "let Daddy smack me" as an an alternative to...
  • User AvatarAndrew McCaig 20th Oct - 8:32pm
    Just so long as we are not going to go down the Norwegian route. There are, I am afraid, much worse forms of child abuse...