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Adair Turner to lead independent commission on compulsion

The Government is establishing an independent pensions commission to look at issues surrounding compulsion chaired by former CBI director general Adair Turner.

The move has been attacked by opposition MPs and IFAs who claim it is trying to bury the issue.

The extent of the commission&#39s remit will be to make recommendations to ministers although they will not be obliged to act upon them.

The Conservatives say while they do not support compulsion, but if the Government does, it should get on with it and stop hiding behind commissions and task forces. IFAs agree, saying the Government is just ducking the issue.

The commissions official remit will be to look at the current “voluntarist approach,” the level of occupational pension provision, private pension savings and other financial assets held by consumers.

Turner is currently chairman of the Low Pay Commission and vice chairman of Merrill Lynch Holdings.

IFA LEBC Group chief executive Jack McVitie says: “I think they are trying to diffuse the compulsion issue. The Government will never introduce compulsion and this is its attempt to bury the issue.”

Tory shadow pensions minister Oliver Heald says: “This commission is a substitute for action. If the Government feels it wants to take action on compulsion, it should do so, not simply refer it to another commission.”


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