Field backs King over pensions independence

Field, the former secretary of state for work and pensions charged with “thinking the unthinkable”, says Mervyn King’s comments at the Adam Smith annual lecture in Scotland follow on from the proposals made by him and his Pension Reform Group in response to the second Pensions Commission’s report. He says the package of reforms the PRG submitted to the government in February advocated a “strategic role” for the Bank of England in initiating its proposals for an investment led pension reform as an alternative to the proposed personal accounts. Field adds: “All opinion polls show the body...