Altmann apologises to Hymans Robertson over scaremongering for profit slur

Pension minister Ros Altmann has apologised to Hymans Robertson over accusations that the firm had published misleading research on the new state pension for the purpose of generating publicity.
Altmann tweet

Altmann apologised on Twitter last night for accusing Hymans of ‘scaremongering’ when it published details of how the new single-tier pensions, which reduces the state pension of many low income contracted-in workers by around a quarter, will impact different groups of individuals.

In a statement to The Guardian newspaper earlier this week Altmann had said Hymans had published the report, which sets out winners as well as losers, with the primary aim of generating publicity for a private actuarial firm.

A statement from her office quoted her as saying: “This ‘research’ has been produced for the primary purpose of generating publicity for a private actuarial firm. It is misleading and represents irresponsible scaremongering. Millions of people including women and self-employed workers stand to benefit from the new rules and around three-quarters of those who reach State Pension age in 2020 will have a higher State Pension than they would have done under the current system.”

But last night she apologised via Twitter, saying: “I apologise to Hymans for wording used in our release”.

Hymans Robertson responded saying: “Thanks @rosaltmann. We appreciate that.”

Altmann also tweeted: “I accept some of John’s criticism, tho not all,” responding to an editorial by Corporate Adviser editor John Greenwood which criticised her comments on Hymans Robertson and which highlighted big losses for low earning contracted in workers.