UK - The UK Trades Union Congress (TUC) has called for the government to include it in the line up of a new Pension Commission that will look at the issue of compulsory supplementary pension saving.

A spokesperson for the TUC said that the union body would be calling for a seat on the Commission after reports that Brendan Barber the new TUC General Secretary elect commented at his inauguration press conference that the discussion panel would lack ‘crucial legitimacy’ without a union voice.

The proposal for the Pension Commission was set out in the UK Green Paper on pensions published on December 18th.

Adair Turner, currently vice chairman of Merrill Lynch Holdings, a director of United Business Media and chair of the UK Low Pay Commission, has
been appointed as chair of the Commission, although the exact make-up of the body has yet to be finalised.

However, Turner has been quoted as saying that he would prefer a small independent commission rather than a large body representing groups with vested interests in pensions provision.

Announcing the appointment of Mr Turner to the Commission, Andrew Smith, UK Secretary of State for Work and Pensions, commented: "Pension policy has to be for the long-term.
"However it is vital that progress is closely and independently monitored so that we can be sure that employers and individuals are rising to the challenge. We will need good information so that we can assess if sufficient progress is being made and whether the Government needs to take action.
"With his background in business and public policy Adair Turner will bring a wealth of experience to this task. I am delighted he has agreed to take on this vital role.

The Commission is set to report regularly to the Secretary of State for Work and Pensions on whether there is a case for moving beyond the current voluntarist approach to supplementary pensions.

Topics