UK - Age Concern wants a Royal Commission to investigate the pensions crisis.
Vice-president Baroness Greengross – who was speaking during a Lords standing committee debate on the Pensions Bill – said the move was necessary to achieve all-party consensus on matters such as state pension reform and pensions for older women.
Greengross said the review could look at issues such as the reform of the state system as well as measures to boost retirement savings among older women and the remuneration of overseas pensioners.
However, the National Association of Pension Funds said there was “no need” for such a review.
A spokesman said: “Although the NAPF agrees with the sentiment that there needs to be an all-party consensus on pensions, we question the need for yet another enquiry.
“With Adair Turner essentially looking into the matters raised by Baroness Greengross, is it necessary for another review that could last for five years until a possible conclusion?”
The Bill goes to report stage in the Lords on July 6.
An unnamed London-based employer has been hit with a £350,000 fine from The Pensions Regulator (TPR) for failing to fully comply with its pension duties.
XPS Pensions has enhanced its fiduciary management selection service in order to help trustees through initial selection and mandatory re-tendering.
One in five defined benefit (DB) schemes are in The Pension Regulator's (TPR) weakest two categories, analysis by Hymans Robertson has revealed.
State Street Global Advisors (SSGA) has been selected as the first index manager for the Asset Management Exchange's (AMX) passive funds.