UK - Tackling pensioner poverty is one of the government's top priorities, work and pensions secretary Alan Johnson claims.
But he dismissed calls for an increase in the retirement age and described compulsion as a “very complex and difficult issue”.
Johnson, in his first interview since taking the job, said the government hoped to encourage people to retire later by offering greater flexibility rather than following recommendations by the Confederation of British Industry to increase the pension age to 70 by 2030.
Johnson told the BBCís Breakfast with Frost: “We believe in flexibility here, of people making their own choices rather than insisting they must work until, say, 70.”
A CBI spokesman said Johnson’s views were not surprising “given we are in the lead-up to a general election and it would be difficult to persuade people this is a good idea”.
But the spokesman added: “We think this is something that will have to be considered if we are to have a valuable pension system in the future.”
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The Pensions and Lifetime Savings Association (PLSA) is in the process of convening an industry-wide group to take forward the work of the Institutional Disclosure Working Group (IDWG).