Quantum Advisory were joined by a record number of attendees from South Wales and the South West for its latest “Pensions for Breakfast” seminar starring former Pensions Minister Sir Steve Webb.
Now Director of Policy and External Communications at Royal London, Sir Steve provided plenty of anecdotal insights into his time behind the scenes of David Cameron’s government and gave his thoughts on a variety of pensions issues, including the current Defined Benefit (DB) funding scheme and proposed Collective Defined Contribution (CDC).
Downsides of pensions reforms include, in his opinion, Tapered Annual Allowance which he describes as ‘the worst piece of pensions policy’.
In relation to Pensions Freedoms, Sir Steve said: “Ironically, the thing that has gone wrong with pensions freedoms is not buying Lamborghinis, but reckless caution with accessed funds being invested in low returning investments that do not even keep up with inflation”.
Stuart Price, Partner and Actuary at Quantum Advisory, said of the event: “Sir Steve’s talk was so engaging and all the delegates had a thoroughly enjoyable time. In addition to the pensions aspect it was great to see the networking before and after the talk.”
The next Pensions for Breakfast seminar will take place 13 November.