Webb: Pensions industry too sober

Speaking at a National Employment Savings Trust Forum, the pensions minister said: "I can't help wondering whether we've become terribly sober about pensions saving - it's got to be structured and advised and regulated and in line with the tax provisions and inflexible." He said a new generation of savers behaved differently and pointed to a Friends Life report which suggested allowing savers to top up pension contributions at cash points to improve saving rates. "Can we do this?" he asked. "Why can't we go with the flow? If somebody looks at their bank balance and it's a bit low then...