MoneyMarketing praises Steve Webb

From a MoneyMarketing leader by Paul McMillan:

Pensions minister Steve Webb must be congratulated for persuading the Government that the huge benefits of a higher state pension are worth the huge costs involved. When Webb was appointed, we were quick to jump on strong statements he made in opposition suggesting the need for a higher and simpler state pension as the bedrock to all other reforms.

Many in the industry, including myself, were cynical that Webb had any chance of getting the coalition to support a citizens’ pension and believed the best he could hope for was to have the plans added as a future aspiration. I’m glad it looks like I have been proved wrong.