Budget 'failed to answer important pensions questions'

www.moneynews.co.uk > Pensions > Budget 'failed to answer important pensions questions'

Budget 'failed to answer important pensions questions'

Wed 23rd Jun 2010

Yesterday's Budget failed to answer many important questions relating to pensions.

This is according to independent policy advisor Dr Ros Altmann, who said the chancellor was also silent as far as savings are concerned.

She said there is likely to be major industrial unrest in the future with regards to public sector pensions.

"Taxpayers and the workers themselves need to finally find out the truth about the costs and future commitments of these pension arrangements. This requires expert input with detailed pension knowledge," Dr Altmann commented.

She added that the government also failed to include any measures aimed at improving the flexibility of private pensions.

In related news, Standard Life has welcomed the announcement that a review will be carried out into the current default retirement age.

The organisation said people should have the freedom to continue working if they have the desire and are physically able to do so.

Click here for more pensions news

Related News : Pensions
	Over-55s don't believe in paying for care, reveals Aviva
	East Midlands comes top in pension contributions
	Corporate pensions provider issues advice for businesses
	One third of workers have no pension, claims Prudential
	More than a third of Brits fail to reassess pension risk, claim experts
	Women protest at No 10 over proposed pension reforms
	Retirement age 'to be brought forward by ten years'
	Interest rates held at 0.5 per cent by Bank of England
	Pension contributions fall in recession, ONS reveals
	Equity release for retirement 'might not suite every household'