It’s fair to say Scottish Widows gets its fair share of criticism but this usually comes in the form of emails from advisers furious at being kept on hold by the overstretched telephone support team, not by left-wing anarchists bent on bringing down capitalism.
But Scottish Widows former head of corporate pension proposition Peter Glancy reveals how in his first meeting with the Department for Work and Pensions as Widows’ new policy lead, he was forced to use the backdoor of Caxton House because of protests around the front.
Hacks at WSJ assumed the protest was being led by people supporting pensions minister Steve Webb’s plans for resellable annuities but Glancy reports the protesters were anti-capitalists arguing for sensible reforms like forcing insurance companies to provide life cover in exchange for hemp and replacing money with hugs as the official currency.
“Probably not the best day for me to be wearing a pinstripe suit and bright tie”, says Glancy.
But pensions protests could well become a regular feature of your streets. If the new freedoms lead to people relying on a pitiful state pension once they’ve blown their savings, could we see effigies of pensions minister Steve Webb or George Osborne being burned in Westminster Square? Perish the thought.