Webb: defined ambition return guarantees a 'stunning sales pitch'

Speaking at the Cass Business School, Webb said the idea of a member paying an up-front premium in return for guaranteed returns would give incentive for members to stay. The premium would also tackle employers' fear of short tenure, he said. Although he accepted the probability of a guarantee kicking in would be low, he added it would provide re-assurance to members to stay in a product they may not necessarily trust. He said: "The sort of guarantee I am talking about could be fairly modest. If a member puts in 4%, the price of guaranteeing that 4% becoming an 8% return with other co...