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CA calls for non-political body to set pension policies

The Consumers&#39 Association is calling for a non-political body to be set up, responsible for pension policy in the UK, citing failure by the Government to address the growing pension crisis.

CA senior policy adviser Mick McAteer issued the call for a new body which would depoliticise pensions at the Liberal Democrat Conference in Brigh- ton this week.

At a fringe meeting sponsored by the ABI and thinktank the Centre for Policy Reform, McAteer said the Financial Futures Commission would be responsible for motivating people to save through education and advertising campaigns on the scale of the Government-run Aids&#39 awareness campaign of the 1980s and 1990s.

It would recommend a level of savings to people, tell them how they are doing personally and publish an annual report on the Government&#39s pension policy.

It would be made up of civil servants from the Treasury, Inland Revenue, Department for Work and Pensions, as well as trade union, business and financial services representatives.

But Liberal Democrat pensions spokesman Steve Webb rejected the idea, saying that it would end up being yet another Government quango. Webb said the Government should get out of the business of advertising pensions, given the failure of its previous efforts.

McAteer said: “Today&#39s politicians are very much interested in the next five years rather than the next 30 years. We need a new kind of political accountability. There needs to be a new Government department to deal with these new challenges.”


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