‘Pension dithering’ goes on
The Government has hinted at its initial reactions to Lord Turner’s Pension Commission Report, the details being contained within a study undertaken by the International Monetary Fund (IMF).
It looks as if the Treasury is supportive of the main idea of a ‘default’ work pension scheme into which people are automatically enrolled. However, there are hints that it is warning against increasing the State pension.
“The Government gave a good indication of the clarity of its thinking on pensions by doing a stupendous U-turn on SIPPS,” said pension expert David Strutt.
“Yet again, we are given hints and allusions about its reaction to Turner’s report that amount to its customary pension dithering.
“In my view, the Government hasn’t got a clue what to do about pensions.”