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Hutton responds to Turner: Nothing ruled out

Work and Pensions Secretary John Hutton has responded to the Turner Report, welcoming the broad framework of the proposals and emphasising the Government has ruled nothing out.
Hutton told the House of Commons future Government policy will depend on meeting five key tests: personal responsibility, fairness, affordability, simplicity and sustainability.
He committed the Government to producing a white paper on pension reform in the Spring and said today was the start of a national debate to reach consensus on a way forward.
Hutton said: We seek a comprehensive solution which will allow us to secure a lasting pensions settlement for future generations. The Government welcomes the broad framework of the Pension Commission’s proposals and options, and believes they are the right basis for the debate to come.
We can not go on as we are. But it is also vital that we get reform right for future generations, and we are determined to reach a national consensus in order to achieve this.


‘Nanny state approach to solving the crisis’

The Turner report is a “nanny state” approach to solving the UK pension crisis, says Positive Solutions chief executive David Harrison. Harrison rejects the Nat-ional Pension Savings Scheme, saying it only serves to absolve individuals from the responsibility of managing their pension arrangements and the cost to business will hinder the UK’s competitive edge in […]

Report puts 60,000 jobs on the line

The number of financial advisers could plummet by a third and 50,000 jobs would be lost at life offices if the Turner report’s National Pension Savings Scheme is introduced. The plan would see 10,000 brokers and support staff on the scrapheap, warns consultancy Deloitte & Touche, due to the reduced role of advice in the […]


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