Friends Provident full of praise for government pension calculator document

www.moneynews.co.uk > Pensions > Friends Provident full of praise for government pension calculator document

Friends Provident full of praise for government pension calculator document

Mon 11th Oct 2010

The recent investigation of pensions by Lord Hutton has been applauded by Friends Provident, with a source from the firm saying they endorse the concept of adequate retirement income for everyone.

Paul McMahon, managing director of UK corporate for Friends Provident, revealed that he is "encouraged" by evidence that the state is looking at ways of addressing the imbalance between men and women when it comes to pensions.

He also agreed with Lord Hutton in suggesting workers from both the public and private sectors should have enough money set aside when they finish their working lives.

"The Hutton report is a welcome step in the right direction given the need to address fundamental challenges for public sector pensions," said Mr McMahon.

However, he questioned how the government intends to share out the cost of public sector retirement products between the taxpayer and employees themselves.

Reflecting on Lord Hutton's review, the FT Adviser reported that £80 billion could be taken off the public sector pensions debt by carrying out certain changes to the way people qualify for retirement income.

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'