Pensions could play 'pivotal' role in general election

Pensions could play a pivotal role in voting swings in the general election, Nigel Waterson says.

In the second of a series of three interviews with leading politicians, pensions spokesman Waterson says the rationale behind public voting could be different to previous years.

He says pensions and investments had become part of the public psyche - and could play a pivotal role in how the voting swings.

He says: "I'm not saying pensions will decide the result of the election, but I think they are far more up the political agenda than they ever were before."

Waterson says his party would not look to rebrand the National Employment Savings Trust should it take office - especially after the department for work and pensions had already spent £363,000 on the project (PP January 14).

"We certainly don't want to come up with another £350,000 for another name or logo just for the hell of it," he adds.

"Fundamentally, what is important to us is whether or not it is going to work - not the logo or name."

However, Waterson says his party had "major concerns" about the lengthy delay in implementing NEST.

He says: "It is the employers at the end of the queue that concern us - the small and micro firms - and those who are the Turner target audience who will have several years before they have full contributions paid into their scheme.

"We are not convinced that it should take quite as many years as it is supposed to."

Waterson also reiterated the Tory party's intention to conduct a quick review of NEST if it gets into power - involving the Personal Accounts Delivery Authority, The Pensions Regulator and anyone else concerned.

He says within the first week or two of coming into office, the Conservative Party would be asking for a report on what practical problems there were in bringing in auto-enrolment on a voluntary basis "as soon as possible".

Election 2010: An interview with Nigel Waterson.