Laura Suter: Pensions need stability, not more tinkering

The chancellor has put pensions at the heart of her economic plans, with the so-called ‘Mansion House' reforms designed to unlock more retirement savings for investment in private equity. The pitch is that this will deliver better returns for members, but, in reality, it involves corralling more people's money into higher-risk assets. If the government is intent on taking these risks with savers' pensions, the very least it should do is provide some stability elsewhere in the system. Currently, the opposite is true. Every Budget is accompanied by feverish speculation about changes to...