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| Age Concern's comments on stakeholder pensions | | Corporate Author | Age Concern England - ACE |
| Publisher | Age Concern England, London, January 1998 |
| Pages | 8 pp (Briefings, ref: 0498) |
| Source | Age Concern England, Astral House, 1268 London Road, London SW16 4ER. |
| Keywords | Pensions ; Supplementary pensions ; Comments or Evidence submitted. |
| Annotation | There is widespread recognition that security in retirement is based on a combination of the basic pension and second pension. Age Concern's previous papers, `Pensions for people' and `Age Concern's comments to the pensions review' argue that the basic pension should be sufficient to meet basic needs in retirement. This paper questions what contribution the stakeholder pension will make. At the very least, the income provided must be better than would have been available under SERPS (State Earnings Related Pensions Scheme) - even if the only contribution made is the National Insurance (NI) rebate. Specific points in the consultation paper commented on relate to: benefits; contracting out of SERPS; contributions; flexibility and portability; scheme governance and legal status; regulation and benchmarking; the role of employers; and self-employment and contract workers. The paper comments that the Stakeholder Pension document was sent out after the closing date for comments to the Pensions Review. It is likely that potential providers will have commented; but it is important to find out the views of those at whom Stakeholder Pensions are aimed, as to whether their needs will be met. (RH). |
| Accession Number | CPA-980310218 P |
| Classmark | JJ: JJH: 6PM * |
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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