Govt response to credit crunch 'dreadful' for pensions - Altmann

She says the Government's response to the credit crunch is dreadful for pensions and its knee-jerk, panic reaction has shown no understanding of how pensions got into today’s mess and how they can be saved. “It's far safer now to put your money into a bank than a pension or any other long-term investment, because there is suddenly a 100% guarantee, whereas the Financial Services Compensation Scheme or Pension Protection Fund only cover around 90% up to a capped amount," she says. "This can only serve to further undermine confidence at the very time when we will need pensions more." Altm...