More needs to be done to get past “political point scoring” and secure a cross-party consensus on overhauling the UK’s pensions system, according to the minister for pension reform.
Last month, the government published its Pensions White Paper, which outlines how it intends to provide the infrastructure for the system for the next 40 years to enable people to plan ahead and save more for their retirement. It includes provisions that will force employers to pay into a national pensions saving scheme on behalf of their staff.
James Purnell, minister for pensions reform, told the Industry Forum business group that to engage with opposition parties, the government would make civil servants available to brief them on the policy.
“We will be happy to meet with them to discuss specific issues they have around the White Paper,” he said. “We will aim to have a parliamentary process that symbolises the emerging consensus on pensions.
“Pensions are too important to be the subject of political point scoring,” he added. “The public expect us to create a stable framework within which they can invest”.