Steve Webb, the new pensions minister
Yesterday I went to see Steve Webb, the new pensions minister, speak at a debate sponsored by the International Longevity Centre (ILC). With some trepidation, because I find pensions terrifying. I know I don’t have enough of one, and I don’t understand them.
The debate was quite consoling, because it was clear, firstly, that pensions are really difficult to understand (it’s not just me) and secondly, that Steve Webb, despite only having been in the job a month, is one of a small minority of people who does understand them. He previously worked at the Institute for Fiscal Studies, specialising in pensions.
Before we sat down, I spoke to a pensions adviser who told me that the state pension was ‘in the international third division’ and private pensions no longer provided enough to live on. Essentially, we are all doomed. Continue reading
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