Webb warns 'money safe' pensions may not be portable

Floated earlier this year, the plans would offer workplace pension members some certainty when saving into risky defined contribution (DC) funds, ensuing they at least got the value of their contributions back. However, speaking at a conference yesterday, pensions minister Steve Webb admitted there would be "tension" between this proposal and his plans to allow a 'pot follows member' system for easier pension consolidation, the Financial Times reports. "Developing products such as a ‘money-back guarantee', where at the very least a pension fund returns the value of contributions, is o...