A permanent Pensions Commission should be set up to oversee the future of the UK pensions system and promote consumer confidence claims the Trades Union Congress (TUC).
In its response to the Pensions Commission report published at the end of November, the TUC also gives its backing to the idea of a National Pensions Savings Scheme (NPSS) as proposed by Adair Turner, but expresses some concerns over the industry alternatives. It is particularly in favour of compulsory employer contributions, a restored link to earnings when increasing the state retirement pension, and a universal, rather than contributory, state pension which would provide particular help to women. But it adds any alternative model to the NPSS, including those proposed by the Associati...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes