Gregg McClymont MP, Labour’s Shadow Pensions Minister, responding to the Regulatory Policy Committee response to the Government consultation on pension changes cap

“With today’s cost-of-living crisis, hard-pressed families who struggle to set money aside need to know that the pensions they contribute to offer good value for money. However, this Government has proved itself unable to deliver the reform we need.
“After finally conceding the case for the cap on pension fees and charges that Labour has been calling for, and rushing out a consultation, we now find that Ministers’ analysis of the options for change was botched, judged unfit for purpose by the government’s own regulatory watchdog.

“This provides further worrying evidence of the incompetence and shambles at the DWP under Iain Duncan Smith and David Cameron.”