Altmann hits out at govt over omission of pensions in savings promotion

Pensions 'better option for long-term growth'

Hannah Godfrey
clock • 2 min read

Former pensions minister Ros Altmann has added her voice to criticism of the government over its release of an infographic that details ways to save but fails to include any information on pensions.

In a blog post on 4 January, Altmann (pictured) described the omission from the 'Ways to save in 2017' infographic, which was published this week, as "deeply troubling", going on to suggest the private pension system was "under existential threat". Pensions were giving people "free money" from their employer and greater government contribution to their savings, she argued, adding that pensions were "a better option for long-term growth", while allowing people to pass on tax-free savings to their dependants. She also said she believed those using the Lifetime ISA as opposed to a pensio...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Overseas pension transfers: How recent rule changes impact recent and future advice

Overseas pension transfers: How recent rule changes impact recent and future advice

Daniel Bosiacki looks at recent rule changes that affect overseas pension transfer advice...

Daniel Bosiacki
clock 06 January 2025 • 3 min read
Exploring pensions outsourcing as a route to unlocking efficiencies

Exploring pensions outsourcing as a route to unlocking efficiencies

'Unlocks the potential for iterative improvement'

Julia Fintz
clock 24 December 2024 • 7 min read
Government confirms no compensation for WASPI women over state pension age changes

Government confirms no compensation for WASPI women over state pension age changes

DWP finds communication delays did not amount to financial loss

Martin Richmond
clock 17 December 2024 • 4 min read