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Anger over commission to look at compulsion

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

The move has been att-acked by Opposition MPs and some IFAs, who claim the Government is trying to bury the issue. The commission&#39s remit will be to make recommendations to ministers although they do not have to act upon them.

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

The commission&#39s 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.

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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