Work and pensions secretary Iain Duncan Smith has told the Conservative conference that welfare ‘reform’ is at the heart of Britain’s economic recovery.
In a speech in Manchester which was light on pension policy details, Mr Smith hailed his department’s reforms over the past five years and suggested the pace of change would not slow down.
He said: “We promised to be the party of working people, committed to ensuring that those who work hard would do well.
“We won the election on that promise and that is exactly what we will deliver.
“Conference, in 2010 I pledged to reform the welfare system directly to you in the first speech that I made.
“The job is not done yet, there is much more still to do.”
Mr Duncan Smith did not go on to mention whether further pension changes would be in the pipeline, citing only sickness benefits as one area targeted.
Last week his Labour counterpart Owen Smith promised to ask “tougher questions” about this year’s pension reforms, the most significant shake-up in decades.
The Treasury has just finished a consultation on the tax incentivisation of pension saving, with many predicting the introduction of a pension Isa.
Adviser view
Petra Griffiths, director of East Sussex-based PSG Financial Solutions, said: “The government should leave pensions alone because it will put people off saving into them if they keep changing it.
“We need to let the dust settle and see how the freedoms are working.”
