The minister also suggested an investigation into the National Employee Savings Trust (NEST) scheme, formerly known as personal accounts, which will mean lower earners will be giving access to defined-contribution pensions by their employer under law.
Speaking to the Financial Times, Webb said: "We are reviewing every contract that the Labour Government signed after 1 January, and the one to administer NEST is a large one worth over £1 billion over the next 10 years. We want to look at whether this is the best way to do this."
According to the Financial Times, the Government will hold a pensions review this summer. Webb said the review would look at whether the scope [of automatic enrolment] is right and whether the delivery mechanism [for personal accounts] is right."
