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Winterton calls for united front on pension provision

Pensions minister Rosie Winterton has called on the industry to unite to encourage people to save for retirement.

Speaking at a pensions event in London yesterday, Winterton said it was vital the public continued to save for retirement in tough economic circumstances while it may be tempting to stop.

She said: “I will be asking experts across the pensions industry to consider how together we can best reach out to consumers to talk to them in a sensible and helpful way about their pension and about pension saving. It is interesting that until recently marketing encouraging borrowing has outstripped marketing encouraging saving by three to one. Accepting that people are not saving enough and those who are saving are considering their options, we need to be united in our message that pension saving is for the long-term and one of the best ways of providing for retirement.”

Winterton also pledged to continue the “helpful dialogue” with industry and employers following Government measures designed to support pension providers and scheme sponsors.

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