To be held on Tuesday, November 10, 2015, from 6.30pm
With support from the Pension Insurance Corporation
The pensions reforms led by Steve Webb, in his record-breaking period as Pensions Minister (2010-15), helped inspire the CSFI’s fellowship programme, which the Pension Insurance Corporation has kindly supported. The coalition government tackled all the fundamental issues: raising the pension age; making the state pension a platform for private saving; nudging working people into long-term saving via auto-enrolment; and freeing up access to their own money in later life.
Steve also pointed out, at a recent Aon Hewitt event, that the government’s reforms had curbed the seemingly inexorable rise in both state pension costs and public sector pension liabilities. As for further changes, mooted by the Treasury in a consultation on incentives to save, he has provocative views: a switch to ISA-like tax-breaks (ie none upfront) would be all about bringing “dosh” into government coffers. I’m glad to be in such good company in defending the current EET regime (contributions exempt, investment gains exempt, eventual withdrawals taxed).
Steve’s career as a politician (MP for a West Country constituency from 1997 to 2015) fell victim to the Liberal-Democrat rout at the last general election. He has now joined Royal London as Director of Policy and External Communications, covering long-term saving, protection products and financial capability. In previous lives, Steve was Professor of Social Policy at the University of Bath and a micro-economist at the Institute for Fiscal Studies.
We are delighted to welcome him to lead our discussion of pension issues, including those raised in the recently published CSFI report: “The Death of Retirement”.