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Eversheds comment: Independent UK pensions commission needed to remove politics from pensions

  • United Kingdom

    23-02-2015

    Commenting on the calls for an Independent Pensions Commission Francois Barker, head of pensions at law firm Eversheds says:

    “I would support the establishment of an Independent Pensions Commission in order to try and take the politics out of pensions. Pensions are a long-term issue and the success and sustainability of our pensions system is jeopardised by short-term political decision-making. The new pension freedoms are a good example of this, where policy has been made on the hoof for political reasons without thorough consideration being given to the long-term impact - and then potentially countermanded by the recent second line of defence proposals.

    “The last Pensions Commission reported almost 10 years ago, and given the amount of change that there has been since then there is a real need for a new independent commission to assess how we move forward from here. Personally, I would support the establishment of a permanent Independent Pensions Commission which can take a long-term view of the issues and which is not affected by short-term political expediency. Such a commission could also help restore the political consensus around pensions that we have seen during the past 10 years, which is beginning to erode.”

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