Live updates

Cameron: 'Good to talk' about pensions at event

908ce43507d150df8da0e71d4b4eb1c7_normal

Good to talk @sagauk event about how our pension & savings plans in #Budget2014 are about helping & trusting people. http://t.co/Ioze7eXFws

Bjffmzniaaassqk

Read: Cameron says pensions reform 'the right thing to do'

Cameron: We kept promises this Parliament

ITV News Deputy Political Editor Chris Ship, who is in the audience at David Cameron's PM Direct event, wrote on Twitter:

Twitterpic2_normal

Hint of change on wealthy pensioner benefits? PM: Kept promise this Parliament-we make new pledges for next Parly but it saves "tiny amount"

Advertisement

Cameron: Pensions reform 'the right thing to do'

David Cameron said giving people freedom with their pensions funds was "the right thing to do" and that this was "the right time to do it".

Prime Minister David Cameron addresses a PM Direct event in Brighton.
Prime Minister David Cameron addresses a PM Direct event in Brighton. Credit: ITV News

The Prime Minister told an event in Brighton that he doesn't believe people are "fundamentally irresponsible" or that they will spending all the money they draw down from their pension.

Watch live: Cameron talks pensions at PM Direct event

'Condescending view' people will blow pension cash

Prime Minister David Cameron told ITV News Deputy Political Editor Chris Ship:

Twitterpic2_normal

On pension reforms, Cameron tells @itvnews it recognises that low interest rates have not been good for pensioners.

Twitterpic2_normal

"Too early to tell" says Cameron if annuity reform will fuel boom in buy-to-let housing market

Twitterpic2_normal

On Lamborghinis Cameron tells @itvnews: it's a "condescending view" that ppl will "blow all the money" they've saved for on one item

Cameron gets standing ovation before event starts

ITV News Deputy Political Editor Chris Ship, who is at David Cameron's PM Direct event, wrote on Twitter:

Twitterpic2_normal

Cameron got cheer & standing ovation BEFORE his talk here. Either they are all Tories or they really like the Budget http://t.co/4QPa0ThMBC

Bjfaihgigaa1lcv

Read: Cameron says pensions reform 'the right thing to do'

PM: Tory bingo advert 'massive storm in a teacup'

Prime Minister David Cameron told ITV News Deputy Political Editor Chris Ship:

Twitterpic2_normal

On that BINGO ad - Cameron says "I didn't see the poster myself" & and "patronising to say we shouldn't help bingo and pint in the pub

Twitterpic2_normal

Cameron calls the BINGO poster a "massive storm in a teacup"

Read: Tory bingo and beer advert criticised

Advertisement

Pension debate should focus on 'giving good advice'

The Chancellor is right to fix the annuities market which is not working in the best interests of consumers, the executive director of Which? has said, after theconsumer group found that less than half of people approaching retirement trust their pension provider to act in their best interests.

Richard Lloyd said:

Instead of questioning whether people can be trusted with their own money, the debate should focus on how to give them genuinely impartial guidance and advice so they can get the best income in their retirement.

Read: Warning over 'burden' of reformed pensions

Two-fifths 'not getting adequate info over pensions'

Around half of people are not receiving adequate information over their pensions, according to to research by consumer group Which?

The figures showed:

  • 42% of people reaching the end of their working lives think their pension provider will do what is best for their customer.
  • Nearly two-fifths (38%) of people who were contacted by their provider as their retirement drew near said it was not clearly explained to them that they could potentially get a better income by shopping around.
  • Around half (47%) of people said they did not get a clear explanation that they can get a higher annuity if they have certain health problems.

Read: Less than half of retirees 'trust pension provider'

Less than half of retirees 'trust pension provider'

Less than half of people approaching retirement trust their pension provider to act in their best interests, according to research by consumer group Which?

The group said that the Government is right to be trying to fix the "broken" retirement annuities market, after it found that just 42% of people reaching the end of their working lives think their pension provider will do what is best for their customer.

Read: Warning over 'burden' of reformed pensions

Less than half of people approaching retirement trust their pension provider to act in their best interests, according to research Credit: PA

The research indicates that many providers are currently failing to give people sufficient guidance on how to get the best deal with their pension pot.

Chancellor George Osborne announced radical reforms around pension pots in last week's Budget, which will make it easier for people to cash in all or part of their pension savings when they get to retirement.

Load more updates

Advertisement

Today's top stories