19 March 2010
The Association of Consulting Actuaries (ACA) has issued a
manifesto recommending changes to pensions legislation. This has
been timed ahead of the General Election to encourage the eventual
winning party into making pension reforms a priority.
The six point plans includes suggestions such as:
- establishing an Independent Retirement Income Commission
- encouraging occupational provision by allowing employers to set
up "middle way" schemes
- encourage retirement saving by providing more early access to
schemes
- reforming annuity purchase rules
ACA Chairman, Keith Barton said:
"We are seeking the commitment of all the political parties to a
comprehensive strategy designed to address the worrying
deterioration in the position of future private sector retirees.
Without early action, the prospect of increased poverty in
retirement may come sooner than many expect. Delay and negativity
aren't an option - it really is time to get positive about policies
that will re-invigorate pensions."
The full press release can be viewed here:
ACA Press Release
