UK - The government's pensions green paper will be published before the end of the year, prime minister Tony Blair has confirmed ending weeks of industry speculation.
The green paper will respond to the Pickering and Sandler reports and the forthcoming Inland Revenue review. It was originally scheduled to be published in the autumn although some reports had hinted it could be delayed until next year.
However, Blair confirmed there would be no substantial delay. He said: “Later this year, we will publish a green paper outlining the future for pensions.”
Noting that the issue of pensions was one of the major issues of concern among workers, Blair added that he wanted to bring together groups representing employees and employers to find a solution to the pensions crisis.
He said: “There is a real concern at employers opting out of final salary schemes and then cutting their contributions; real anxiety among older employees; real confusion among younger ones as to the best way to provide for the future.
“I have asked the secretary of state for work and pensions to bring together both the CBI and the TUC to address these issues to inform the green paper.”
Sources in the industry think the green paper may be expanded to cover an even wider range of issues including the replacement for the MFR, the replacement of OPRA and the bringing forward of new legislation on winding-up.
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