LORD Taylor's report on UK pension reform published yesterday had been widely trailed in advance so there were not many surprises in it. Even so, younger people reading it may have been shocked to realise that under its provisions their entitlement to a state pension will be delayed to at least age 67 within twenty-four years. Scanning the recommendations of the report it is not difficult to understand why Gordon Brown was annoyed by its prescriptive character when he got a sneak preview of it last week. Lord Turner's Commission was asked to provide food for thought for an informed debate about pension reform but its report goes much further than that and actually makes a number of quite specific proposals for change which ultimately will be matters falling within the responsibility of the government of the day. So it was interesting that Tony Blair's references to the report in the House of Commons yesterday were moderate in tone and that he accepted its basic premise that in future the state pension should be more generous and simpler in character.
Looking forward
05/12/2013 00:00
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