New plan an important step in improving workplace pensions, says TUC
- Published on Thursday, 22 November 2012 12:00
- Posted by Vicki Mitchem
Commenting on the publication today of the government's new reinvigoration strategy for workplace pensions, TUC General Secretary Brendan Barber said:
'This new initiative shows the government is serious about improving workplace pensions.
'The TUC has always considered auto-enrolment to be the first step towards wider reform on pension provision, and we're glad the government agrees with us.
'The government is right to explore to new ways to improve defined contribution (DC) pension provision.
'Good governance, higher contributions, economies of scale, incentives to save, and more opportunities for employers and employees to share the risks involved in saving for retirement should all be part of a workplace pensions system that provides financial security and decent standards of living in retirement for all.
'These key objectives must be at the heart of the next phase of pension reform.'