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Building on the pensions consensus

economy , employment , personal finances , reform


McClymont: Pensions reform means maximising returns

08 Feb 2012

In a speech to an IPPR seminar, the shadow pensions minister Gregg McClymont made the case for reform to the pensions market to ensure that people get the highest return from their hard-earned savings. In tough fiscal times, he argued, it would be harder for government to spend significant additional sums on pensions, so new approaches would be needed to reduce charges, boost investment returns and maximise contributions.

Download a full transcript of the speech.

Jeannie Drake, former member of the Pensions Commission, and Miles Celic, director of public affairs and policy at Prudential, also spoke.

John Hutton on pension reform

23 Jun 2011

Lord Hutton, who led the government’s pensions review, has urged ministers to listen to union concerns about  increased contributions to avoid the risk of people leaving their pension schemes.

In a speech to an IPPR seminar, the former Labour Pensions Secretary Lord Hutton, urged all parties to ‘stay at the table’ and be ‘genuine and open’ about negotiations on public sector pension reform. The former chair of the Independent Public Service Pensions Commission was speaking in the wake of controversy sparked by a speech given at IPPR by the Chief Secretary to the Treasury, Danny Alexander, on Friday 17 June.

Lord Hutton said there was a real problem of how decent pensions could be provided in a way that was affordable, but that reform needed to handled sensitively.

The seminar, titled 'Public Sector Pensions – progress towards reform?' and sponsored by Invesco Perpetual, was held in Central London.

 Read John Hutton's speech