Consumer champion Which? was one of just two organisations told about the pension reforms before last year's Budget, the organisation's executive director has said.
Richard Lloyd said he was secretly briefed by the Treasury alongside another body, also "not industry". He said the fact the government turned to consumer bodies for advice was "indicative of a shift in mindset" and showed the government wanted to "make it work for the consumer". The other body present at the briefing remains unnamed. Lloyd suggested the industry had had "years of warning" that something was going to happen. "The [Treasury's] mindset was 'this is for the consumer'. This is a massive shift and I welcome that." The financial services sector was shocked when Cha...
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