John Fox: Why pensions vs pension ISAs is a false debate

The words "climactic" and "consultation" seldom go together. But the final moments of the government's consultation on pension reform delivered an unexpected amount of drama - not least with Steve Webb's eleventh hour intervention, in which he argued passionately against the introduction of pension ISAs. The former pensions minister's comments echoed objections from several big beasts in the industry, including the National Association of Pension Funds. But the idea that the debate was a titanic struggle between the status quo and pension ISAs is a red herring. Neither is a real...