ex-minister Steve Webb admits bad decision

redux

citywire.co.uk/new-model-adviser/news/webb-we-made-a-bad-decision-on-state-pension-age-rises/a866283

Reading that, it sounds like there were more than one.

But he's on about changes to the pension age, brought in too fast, after bad advice from civil servants, crisis meeting with Cameron and Osborne ...

And apparently he didn't explain the new state pension as well as he should have done.

Interesting comments below the article, some obvious professionals, some rather sceptical, and on other points too.

p00hsticks

that link doesn't seem to be working for me....

[edit] it works if I cut and past it into my browser, but not if I click on it ? (when it seems to put 'forum.moneysavingexpert.com' at the front ?)

jem16

http://citywire.co.uk/new-model-adviser/news/webb-we-made-a-bad-decision-on-state-pension-age-rises/a866283

Should work.

redux

p00hsticks wrote: »

that link doesn't seem to be working for me....

Now repaired, after MSE forum corrupted it several times

(it pre-inserts http:// then omits it and appends the rest after a MSE URL)

Thrugelmir

Classic example of why politicians shouldn't be put in charge of anything............

redux

Thrugelmir wrote: »

Classic example of why politicians shouldn't be put in charge of anything............

Well, Ros Altmann was supposed to be a pensions expert, previously independent of party, and in that guise had argued against some of those changes, but as one of the commenters reminds us, she more recently appeared to forget to consider that she'd been a member of 3 political parties at the same time.

So not necessarily much improvement ...

JezR

No mention of the GMP isuue then.

Webb did explain how the transitional arrangements should be viewed early on (ie state and contacted out pension delivering the single tier equivalent together) but didn't say it often enough or at all in the next few years.

grey_gym_sock

Thrugelmir wrote: »

Classic example of why politicians shouldn't be put in charge of anything............

so who should be in charge instead?

Thrugelmir

grey_gym_sock wrote: »

so who should be in charge instead?

Somebody that's an expert in the relevant area. Board Directors of Companies don't get their jobs because there somebody's mate. They've spent a lifetime building knowledge and expertise.

princeofpounds

Board Directors of Companies don't get their jobs because there somebody's mate.

I know a lot of them. And they often do get the job because they are somebody's mate.


They are often well-qualified too however, they are not mutually exclusive options. But good relationships don't hurt.

grey_gym_sock

Thrugelmir wrote: »

Somebody that's an expert in the relevant area.

we're talking about a pensions minister. the civil servants in the department are supposed to be the experts. the minister is supposed to be there to provide some democratic oversight. are you suggesting that we should get rid of democracy, and have rule by supposed experts instead?