Government must review pension freedom to stop savers being ripped off, says TUC

date: 10 June 2015

Responding to Pensions Minister Ros Altmann’s comments on problems with the new pension freedoms introduced by the government, TUC General Secretary Frances O’Grady said:

“The government was warned that rushing in so-called ‘pension freedom’ risked causing chaos in which savers would be the losers. We need government action to stop people being hit with rip-off charges that eat up their retirement savings.

“There should be a thorough review to examine the impact of George Osborne’s ill-thought experiment with Britain’s pension pots.

“Savers must have access to good value, high quality retirement income options, not simply to be left alone to fend for themselves in a free-for-all.”

NOTES TO EDITORS:

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