Liberal Democrat minister for pensions Steve Webb has slammed Labour for leaving the country’s pension system in a “mess” but nevertheless insisted that the “foundations for a fairer society” have started to be laid.

Speaking at the Liberal Democrat party spring conference in Brighton, Webb stated that for too long the UK has had a pension system that is “bafflingly complex” and produces poor outcomes for too many people. He added that the “dire financial inheritance from Labour” has meant that billions have had to be taken out of spending.

Webb stated: “Trying to come up with a pension reform that cost no additional money but which addressed long-standing injustices was a bit of a challenge. But I believe that is exactly what we have done, and that you can proud of being part of the party that did it.”

Speaking about the state pension reform, Webb argued that far fewer people will miss out through not claiming the top-ups that they need. "Instead", he said, "anyone who has put in the years will get a single, simple, decent state pension. Liberal Democrat fairness in action".

On the issue of auto-enrolment, Webb described the policy as so far being a “stunning success” and that the “early feedback from big employers is that the whole thing has gone much better than they expected, with the vast majority of employees deciding that they value their new pension rights and want to keep them".

Share Story: