End pensioner poverty says pensions minister Steve Webb

Posted on: 18 November 2011 by Agatha Cheng

Pensions minister Steve Webb talks about the government’s plans for change and why he thinks pensions have an image problem.

Earlier this year the government announced a major overhaul of the UK pension system. In 2010, the coalition changed the inflation measure used for increasing state pensions and at the end of November George Osborne will reveal details of exactly how next year's increase will be calculated and how much more pensioners can expect.

Pensioners and those nearing retirement age have more questions about the pensions system. They are struggling as a result of the high inflation, VAT rises and the Bank of England's interest rate policy - what will the Government do about the impact on annuities?  Are we about to see some major overhaul of the regulations on annuities?

And what about pension savings for the future?  How will auto enrolment into employer pension schemes work? Do pensions have an image problem? And will pensioners be able to dip into their pension pots earlier than they currently can? Saga Director General Ros Altmann interviews Pensions minister Steve Webb on pension’s related issues.

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