The Government's efforts on pensions have been pretty dismal and its legacy, irrespective of whether it stays in power, will be the new national pensions scheme, known as NEST.

The people at NEST aren't a happy bunch at the moment. They are upset that the scheme is being picked apart before it gets up and running. Of course, that has been one of the criticisms – the length of time it has taken to get it started. The Government's first pledge to shake up the pensions landscape was made in 1998, but the scheme will not be fully operational until 2016 – a generation of pension-savers lost.