News story

13th March 2002

More Government Failure on Private Pensions

Steve Webb MP, Liberal Democrat Shadow Work and Pensions Secretary, commenting on reports that the Government have failed to provide adequate remuneration for those opting out of the state pension, said today:

“The news that large numbers of people are likely to opt back into the state pension scheme is yet another sign of the complete failure of the Government’s goal of boosting private pension provision.

“If the Government really wants to boost private saving it needs to radically simplify the whole private pension system. The Government’s current policy is to make private pensions more complicated with every passing week.”

ENDS