Purnell calls for pensions consensus
Pensions reform minister James Purnell has called for a national consensus regarding reform of the pension system.
Earlier this week the government published its summary of the consultation of the white paper published in May and Mr Purnell welcomed what he described as a broad endorsement of the plans.
He noted that the impossibility of the removal of risk from pension saving or altering the shift towards an increasingly older population and called for cross-party co-operation to help foster a system with foundations supported by all major parties.
"In pensions, consensus isn't a symptom of having a good policy, it's a necessary component of having an effective policy. That's because pensions policy is, by definition, long term," said Mr. Purnell
He added with pension investments being made for 20-40 years and longer, savers expected as much stability as possible in the pension system.
Insurance group AEGON recently expressed its support for the government's research into delivery models for Personal Accounts and called for continued debate regarding potential damage to existing pension provision to assist consensus-building.
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