EFF sets up pensions taskforce

Manufacturers’ organisation, the EEF, has set up a pensions taskforce to examine the pension strategy and arrangements that will be appropriate for the UK in 2015 and be sustainable into the future.

The taskforce will be made up of specialists with a range of financial, pensions and human resources expertise from the manufacturing sector and will be chaired by Paul Lester, chief executive of VT Group.

Its report, which is due to be published in summer 2005, will address many of the issues raised in the Pension Commission’s Interim Report and examine how the transition from the UK’s current pension arrangements can be achieved.

Lester said the future of pension provision in the UK was one of the most important and difficult issues facing policymakers today and one where there were no easy answers.

“Many manufacturers remain firmly committed to providing pension arrangements for their employees and it is important that their views on the UK’s future pension arrangements are taken into account,” he said.

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