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Hollis fears over 60/40 ratio

The Government is no longer committed to reversing the 60:40 ratio of responsibility for retirement income between the state and the individual, according to Labour peer Baroness Hollis.

In response to a question at the Sandler seminar, Hollis, the Parliamentary Secretary for Work and Pensions, said it would be fair to say the Government is no longer expressly devoted to reversing the figure.

Following Labour&#39s election in 1997, Chancellor Gordon Brown said the Government&#39s objective was to reverse the target by 2050. Hollis&#39 comments appear to reveal a change of thinking by the Government. She said: “The 60:40 goal is not a priority as it once was.”

Aegon director of corporate development Laurie Edmans says: “My impression is that the 60:40 to 40:60 split has been dropped as a specific target. I do not get the impression that it has been replaced by another specific target.”

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