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Not so wise

What now for the government's beleaguered pension guidance service?

25 November 2015

The great pension revolution has not been without its snags and hiccups.

The concern that savers would pillage their pension pots in droves and blow all of their savings, thus worsening the burden on the state to financially provide for the elderly, was quickly put to bed by the former Minister for Pensions, Steve Webb.

Webb said the government was 'less bothered' about what people will end up doing with their money, and was more concerned with actually ensuring that savers are able to do with their money as they please.

'So actually', he said, 'if people do get a Lamborghini and end up on the state pension, the state is much less concerned about that, and that is their choice'.

Fair enough.

There was never any real danger that the average saver would be...

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