Commission could provide pension solutions for UK pensions crisis

Mon, 20 Jun 2005

The Trades Union Congress (TUC) asked for the government to be brave in tackling the UK pensions crisis.

When looking for pensions solutions, the Department of Work and Pensions (DWP) faces tough decisions in the face of the UK pensions crisis, acknowledged general secretary Brendan Barber.

This is complicated further by opposition parties that would criticise any proposed pension plans proposed by the DWP.

Mr Barber suggested that the establishment of an independent UK pensions commission could hold pension solutions for the country.

Speaking at a conference for pension fund trustees, Mr Barber said such a UK pensions commission should represent all groups involved in the UK pensions debate.

"If it said we needed further compulsory savings or a slow phased tax increase as the only way to avoid poverty in old age then no-one could dismiss it," he said.

Mr Barber called for "bravery with objectives" by the DWP in order to find workable pension solutions.

He said that increasing the age of retirement was not a pension solution, but a simplified system was needed, with the TUC playing a role in more education, advice and information.

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