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Centre for Policy on Ageing | |
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The future of UK pensions
— Third report of session 2002-03. Volume I: Report and proceedings of the Committee | | Author(s) | Sir Archy Kirkwood |
| Corporate Author | Work and Pensions Committee, House of Commons - HoC |
| Publisher | The Stationery Office - TSO, London, 2 April 2003 |
| Pages | 112 pp (HC 2002/03 92-I)[including HC 1302-i Session 2001-02] |
| Source | TSO, PO Box 29, Norwich NR3 1GN. |
| Keywords | Pensions ; Social policy ; Government publications. |
| Annotation | The Committee's inquiry was conducted against a background of speculation that UK pensions were in crisis; rather, there is a crisis in confidence, and many witnesses consider that the system needs reforming. While the report identifies various strengths, it also outlines the weaknesses such as pensioner poverty, the savings gap, and scope for improving pensions education. Options for reforming state pensions include: raising the state pension age; abolishing contracted out National Insurance (NI) rebates; and raising more NI or tax revenue. The Committee's recommendations aim "to create an environment in which people are encouraged to plan sensibly and confidently for their future private pensions" in the knowledge that there is a sustainable and adequate Basic State Pension as a foundation. Given the complexity of the subject, the Committee recommends that any future Bill on pensions should be subject to pre-legislative scrutiny. (RH). |
| Accession Number | CPA-030818204 B |
| Classmark | JJ: TM2: 6OA |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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