TUC claims Pensions Green Paper will not solve crisis

The
TUC has welcomed the Pensions Green Paper, but claims more needs to be done to
halt the pensions crisis.

TUC
General Secretary John Monks said he believes that the only long term solution
to the pensions crisis is a new partnership between employers, employees and
the Government.

He
said there needs to be contributions from both employers and employees,
building pensions on top of a secure state pension foundation.

Monks
said the Green Paper is a step in the right direction, and contains many
welcome measures: "It does not rule out compulsion, although it is clear
that voluntarism is to be given one last chance. It rejects raising the state
pension age, an important victory for union campaigning.

"We
are very pleased to see day one pension rights. We support moves to give people
more choice about when they retire, and to make the move from work to
retirement more flexible, as long as it is not based on raising the state
pension age.

"We
welcome the consultation on better protection for current scheme members,
mutual insurance, and particularly consultation on changes to schemes. We
broadly support the simplification agenda, though we will want to study the
complex proposals published carefully before we respond.

"Our
campaign for the new pensions partnership goes on. We have always known we will
not achieve it overnight. Much more needs to be done, but on balance the Green
Paper is positive. As it becomes clearer that voluntarism does not deliver, we
believe that we will win. Otherwise, we will be condemning growing numbers of
people at work today, to poverty in retirement."

By Quentin Reade

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