Downing Street Says

» Wednesday, September 8, 2004

Pensions

Asked if Downing Street would recognise the suggestions of some city commentators that pensions policy provision had become ‘a bit of a basket case’ under this Government, the PMOS said it was clear that the Government had addressed both the immediate and longer term issues on pensions, which all Governments were having to deal with. For example, we had introduced the Pension Credit in October 2003. In addition, the Pensions Bill would include the Pension Protection Fund. We had also set up the Financial Assistance Scheme to help those who had already lost their pensions. In order to address the longer term issues, we had asked the Pensions Commission, under the leadership of Adair Turner, to undertake a review. This was due to report in the autumn.

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