Pensions need overhaul says research

State
pensions need a major overhall, according to researchers who spent 18-months
investigating them.

The
report by the Institute of Public Policy Research, a centre-left think-tank
whose recommendations often closely mirror Labour policy, says state pensions
should be linked to average earnings.

Entitled
A New Contract for Retirement, it also proposes raising state retirement age to
67 and scrapping the state second pension.

The
IPPR said means-testing to top up pension payment is "flawed" and
should be scrapped.

However
Government has labelled the report "simplistic and misguided".

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

Email(Required)

OptOut

From time to time, we will send you emails about selected products, events and services from Personnel Today and OHW+ - but you can choose to opt-out at any time. If you do not wish to receive these emails, please tick this box.

Name

This field is for validation purposes and should be left unchanged.

Δ

Work
and Pension secretary Alistair Darling said IPPR proposals were unworkable.

By Quentin Reade