Pensions policy should be taken out of day-to-day party politics to allow people to plan for the long-term, industry experts say.
Following repeated changes at the Department for Work and Pensions (DWP), which saw Yvette Cooper become the eighth secretary of state at the DWP since it was created in 2001, the pensions industry says change is needed in Westminister's attitude to pensions.
The industry has often bemoaned the continual change of ministers with pensions responsibilities, saying it does not allow one minister to get to grips with the complex issues facing retirement saving and provision.
AXA Winterthur's pensions strategy manager, Mike Morrison, says pensions policy needs to be taken out of day-to-day government.
"We should take pensions policy out of politics, perhaps through the creation of an independent commission set up with all-party consensus," he explains.
"An organisation that is not concerned with the short-terms issues of party politics would then be able to create effective pensions policy for the long-term."
Nick Cooper, pensions proposition manager at Zurich, says such a move could help provide some certainty in pensions planning.
"This would definitely help advisers and their clients, who are trying to make long-term plans but don't know what the rules will be in a few years time," he says.
"I'd like to see some more detail on the Conservative and Liberal Democrat plans for pensions, and maybe there will be some agreement on the best way forward from the major parties."
However, attempts to set up an independent pensions policy body have already been attempted, with the creation of the Pensions Commission in 2002.
The Commission, headed up by Lord Adair Turner, was created to carry out research into the UK's regime for long-term private pension saving, but was disbanded after completing its report.
Rachel Vahey, head of pensions development at Aegon, says the Pensions Commission was an attempt to provide independent oversight of pensions, but doubts it could work over the long-term.
"I think it's a laudable aim to have an independent body to set pensions policy, but it would inevitably come up against problems on Budget day," Vahey says.
"Pensions are inextricably linked with tax and benefits so that it just wouldn't be possible to remove political influence from policy."
With Cooper now heading up the DWP, and Angela Eagle taking the post of Pensions Minister, the industry will have to adopt a 'wait and see' approach to their performance, but with a General Election due next year, they may not have the chance to make a significant impact.
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