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Pension commitment required by Government

17 September 2009 / by Rebecca Sargent

The Government and political parties need to get serious about retirement in the forthcoming General Election, Just Retirement has claimed.

According to the retirement specialist, as people are living longer than ever before, the impact of the UK's ageing society will be considerable, which is why Just Retirement is calling on UK political parties to show clearer leadership on policies regarding pensions.

Just Retirement claims that current pension policies are unclear and that a defined over-arching strategy for ageing and retirement is needed. The Government has introduced initiatives, including Personal Accounts, which will be rolled out in 2012, however, other parties have so far refrained from committing to such initiatives.

Commenting, Nigel Barlow, head of research at Just Retirement said: "The national pension debate needs to move on. For over two years, it has been focused on the implications and implementation of personal accounts.

"This concentration has done little or nothing to advance discussion of the issues facing those coming into retirement. If the political parties are serious about providing solutions to the pension issue, they must accord it the importance it deserves," he added.

As a result, Just Retirement is calling for the appointment of a Cabinet level minister whose mandate would cover all aspects of pre and post retirement planning.

Mr Barlow adds: "We are also calling for greater thought by the major political parties as to what policies they will bring to the Country through a General Election campaign.

"Without these policies in manifestos, the major UK political parties risk ignoring an important constituency whose propensity to vote should not be taken for granted."

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