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Difficult, says Darling

Selling pensions is very difficult at the moment due to the complexities in the marketplace, Secretary of State for Work and Pensions Alistair Darling told a Parliamentary committee last week.

Testifying before the Work and Pensions select committee, Darling conceded the level of regulation and complexity make it difficult to sell a pension to anyone who is not well informed about the industry.

He claimed it was in the best interests of lower earners to review their pensions. He said: “Some people ought to consider whether to stay in their private pension or opt back into the state pension. When they come back into the state pension they will be able to build up there.”

Darling also rejected claims that pension policy is out of touch with people&#39s concerns. He said: “We do not change policy because of the day&#39s headlines.”

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