House of Lords committee is right to find serious defects in workplace pensions

The House of Lords Select Committee on Public Service and Demographic Change last week published Ready for Ageing?, its report on the challenge that population ageing presents for the UK. The report contained some very tough language on DC pensions, much of which chimes with the TUC’s concerns.

The committee’s main recommendation is that the government must adopt a coherent, joined-up response to population ageing. It wants the current government to publish a white paper on their vision for public services in an ageing society, and for the government elected in 2015 to immediately set up two cross-party commissions, including one on how to work with employers and the pensions industry to improve private pensions, saving and equity release.

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Image: House of Lords