Commenting on the government response published today (Friday) to the Work and Pensions Committee report on pension freedoms, TUC General Secretary Frances O’Grady said:
“Workers need security in retirement. But millions of savers risk buying rip-off products, falling victim to scams or running out of money in old age.
“Telling savers to shop around is not good enough. All pension schemes should give savers access to good value default options at retirement. This must include state-backed NEST.”