30 November 2005 - Turner report is important milestone towards reform - Hutton
The Pensions Commission report was today welcomed as an “important milestone towards a lasting pensions settlement”, by Secretary of State for Work and Pensions John Hutton.
He said its publication marks the beginning of a new phase in the National Pensions Debate which will culminate in lasting reform.
We seek a comprehensive solution which will allow us to secure a lasting pensions settlement for future generations,” Mr Hutton said.“ The Government welcomes the broad framework of the Pensions Commission’s proposals and options, and believes they are the right basis for the debate to come.
“In Britain today people enjoy better health and life-expectancy, which is good news. But this also poses challenges to government and to individuals saving for their retirement.
“By 2050 there will be 50 per cent more pensioners than today. Critically, by 2050 there will be two people of working age to every pensioner compared with ten people a century ago.
“Put quite simply, 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.”
The Government will expand the National Pensions Debate over the next few months to reach a consensus on the way forward.
Mr Hutton emphasised that pensions reform must meet five tests, which he first set out in a speech to the Institute of Public Policy Research last week:
- Does it promote personal responsibility?
- Is it fair?
- Is it affordable?
- Is it simple?
- Is it sustainable?
He continued: “The Government has an open mind and we will continue to take on board people’s views in coming months through the National Pensions Debate as we work towards the publication of a White Paper in the Spring. We are ruling nothing in and nothing out.”
Mr Hutton thanked Lord Turner and his fellow Commissioners Jeannie Drake and John Hills for their work during the last three years.
“They have made a tremendous contribution to one of the most important public policy challenges facing the country today,” he said.
“It represents an important milestone towards a lasting pensions settlement.”
Notes for Editors
- A full copy of the Pensions Commission report is available from the commission’s website www.pensionscommission.org.uk
- Secretary of State for Work and Pensions John Hutton thanked the Pensions Commission for its work in a statement today to the House of Commons. The government will bring forward a detailed response in the spring.
- Log on to www.dwp.gov.uk/debate/ to take part in the National Pensions Debate.
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