The chairman of two DSS-backed industry thinktanks has blasted the
Government for being “too chicken” with its plans to reform pensions.
Aon Consulting principal Tom Ross, who holds an OBE for services to the
poension industry, believes far-reaching changes are needed. He chairs the
stakeholder pensions advisory group and the pension provision group. He
wants to see:
The scrapping of all lim its on pension tax relief.
Pension watchdogs brought under one regulatory umbrella instead of being
split between the FSA and Opra.
All pension schemes allowed to run alongside each other.
Older pensioners having their state second pensions levels boosted.
Ross says: “They are too chicken and not being bold enough. If a Martian
landed in our country, he would think we are quite mad. There needs to be a
pretty radical overhaul.”