LibDems suggest need for NS&I-style Citizens Pension

Speaking at a City forum round table event on 24 February, Liberal Democrat spokesperson on pensions, Lord Oakeshott called for the creation of a 'National Savings Pension' which is based on a model similar to that adopted New Zealand and based on residency, to be put in place, as the only way of escaping means-testing and to serve people of lower income. His more radical thoughts for reform of the industry included a long-term aspiration to see some form of clarification of how contracting out rebates should be handled. Upon establishment of such a scheme, he continues, the State wou...