Government has finally caved in on Labour’s campaign to protect pensioners from rip-offs and mis-selling - Reeves
Rachel Reeves MP, Labour’s Shadow Work and Pensions Secretary, following reports that the FCA will introduce a ‘second line of defence’ for pension savers, said:
“After spending months opposing Labour’s campaign to protect pensioners from rip-offs and mis-selling I am pleased the Government has finally caved in today. Labour have put the interests of savers first on fees, on charges and on pension guidance and time and time again ministers are left playing catch up.
“We remain extremely concerned about the inadequate preparations by government ahead of the introduction of the new pension freedoms in April 2015. The Government must act quickly to prevent pension changes descending into chaos in two months’ time.”
“After spending months opposing Labour’s campaign to protect pensioners from rip-offs and mis-selling I am pleased the Government has finally caved in today. Labour have put the interests of savers first on fees, on charges and on pension guidance and time and time again ministers are left playing catch up.
“We remain extremely concerned about the inadequate preparations by government ahead of the introduction of the new pension freedoms in April 2015. The Government must act quickly to prevent pension changes descending into chaos in two months’ time.”
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