Friends Life discusses pensions calculator issues with Nick Clegg

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Friends Life discusses pensions calculator issues with Nick Clegg

Thu 21st Apr 2011

Deputy prime minister Nick Clegg met with Friends Life this week to discuss obstacles in the pensions sector.

The Liberal Democrat MP suggested the issue needs to be depoliticised, so that short-term policies do not get in the way of encouraging long-term savings.

He and pensions minister Steve Webb were involved in roundtable talks with several experts at Friends Life, including head of corporate pensions Martin Palmer.

Mr Palmer said he is "delighted" the pair chose to visit the company's south-west base in Bristol, adding: "This was a great opportunity for Friends Life to share our thoughts on the future of long-term savings with two senior government ministers."

During the day, Mr Webb claimed setting a monetary goal for pensions pots may intimidate many savers.

This week, the government concluded that there is not enough evidence to suggest early access to pensions will boost the amount people put aside and opted not to adopt such a policy.

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