Consumer groups slam pension reform review panel
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Consumer groups have critisised the Government for failing to include a union or consumer voice in its expert team tasked with reviewing auto-enrolment and the National Employment Savings Trust.
Speaking at a stakeholder and press briefing in Westminster this morning, Work and Pensions Secretary Iain Duncan Smith and pensions minister Steve Webb announced a review into how auto-enrolment would work would be conducted by Paul Johnson of the Institute for Fiscal Studies, Legal & General’s Adrian Boulding and EEF head of employment policy David Yeandle.
The team will report back to Government at the end of September.
But Which? head of economic advocacy Doug Taylor critisised the lack of a consumer voice on the panel.
He said: “There is clearly a strong emphasis on the issues relating to providers and employers but there is no specific reference to the consumer in this.
“I would hope there is a clear committment in the terms of reference and indeed from the panel to ensure the issues of consumers, for example appropriate choice, trust and cost, are very high in the considerations at this point.”
Trades Union Congress general secretary Brendan Barber echoed his views, stating: “Of course we recognise the right of a new Government to look at the decisions it has inherited from its predecessor. But the plans for auto-enrolment have won wide support and have been built through a careful process of finding consensus.
“Moving away from the comprehensive approach taken by the recommendations of the well-respected independent review headed by Lord Turner would be disastrous for the chances of establishing a new pensions system.
“Ministers should not forget that detailed implementation of the 2012 plans has been planned with strong involvement from employer, pensions industry and consumer groups.
“It is therefore disappointing that the review team includes no union or other consumer voice, and while distinguished appears to have little experience of pensions issues for women and lower paid workers.”
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