Liberal Democrats in government must act more urgently to radically reform public and private occupational pensions, delegates at the party’s Spring Conference will hear.
Liberal Democrat and experienced member-nominated trustee Janice Turner will deliver a policy motion on Saturday - backed by pensions minister Steve Webb - pushing for reform of both defined benefit and defined contribution pensions.
She will also propose merging local government schemes to save money on fees and administration.
Turner will move a policy motion asking Lib Dems in government to act more decisively to protect DB pensions in the private sector.
She wants immediate reform of scheme actuarial valuation rules that make "scheme costs so volatile for employers".
Turner (pictured) will also push Lib Dems in power to lift "overly interventionist" regulatory practices which are triggered by longer deficit repair agreements and for them to oppose European-level legislation which would prompt further DB closures.
Turner will also suggest merging local government schemes to save cash.
The motion noted the party was concerned about the proliferation of a multitude of local government pension schemes with their costly duplication of administration costs, fees and charges, inadequate regulations to ensure member-nominated representatives on all LGPS boards and inadequate provision of training for LGPS representatives.
She said the merged schemes would also need more effective control by member and employee representatives "with the resulting benefits share with the scheme members".
Turner, a member-nominated trustee at the BECTU union, also wants to see radical reform of DC schemes "to achieve greater certainty of pension" for members.
The motion also pushes for investigation and action on industry charges, fees, annuity prices, benchmarks, transparency and disclosure including investment charges and charging structures to "ensure that pension schemes and their members achieve better value for money".
Turner is co-chairman of the Association of Member Nominated Trustees but pointed out the body was non-party political and she put forward the policy motion purely as a member of the Liberal Democrat party.
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