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&#39Compulsion only answer to pension shambles&#39

The Liberal Democrats are calling on the Government to bite the bullet on compulsory pensions and stop telling the public lies about its failing pension policies.

In a damning attack at the conference, LibDem work and pensions spokes-man Steve Webb said the Government was guilty of undermining pensions while at the same time paying lip service to the issue of savings shortfalls.

Webb said current pension policy is a shambles and its complicated tangle of means-tested benefits makes the Government message that it always pays to save untrue.

He said compulsion is the only answer to ensure everyone has sufficient saving levels for retirement.

Webb believes it can be best introduced by forcing employers to make contributions. This would sweeten the pill of making pensions compulsory for individuals. He described Alan Pickering, the head of the DWP simplification review, as the last hope for making the pensions system fav-ourable to consumers.

He said: “The Government has got to bite the bullet on the C word. It is time we had compulsion and more flexible and later retirement. It cannot go on telling people lies.”


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