How much does the taxpayer pay in fees for Ed Miliband’s pension? 20 per cent? 25 per cent? Does this mean he disagrees with the NEST charging structure?
Politicians must consider what is and is not responsible behaviour before making such bold statements. They’re fully aware that people cling on to soundbites, and what Miliband wants to leave in peoples’ minds is that he is tackling the big, bad, rip-off pension industry.
There is no substance behind his statements, and in fact the only real outcome of this, other than people like me in parts of the industry getting hot under the collar, will be to ensure another swathe of people give up and don’t bother saving towards their retirement.
That is something individuals and our nation can ill afford.