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Welfare Reform on the Web (May 2000): Pensions - UK

INSURANCE BODY URGES COMPULSION FOR NEW PENSIONS

N. Timmins

Financial Times, Feb. 4th 2000, p.4

More compulsion to save will be needed if the government is to achieve a big boost to pension provision by those on low to middle income, the Association of British Insurers has warned. Compulsion could take many forms, from strong incentives to employers to contribute to employees' pensions to compulsion on individuals to take out private provision.

LIB DEMS ATTACK 'MISERLY' PENSION RISE

N. Timmins

Financial Times, Feb. 8th 2000, p.6

The basic state pension is to rise by only 75p in April 2000 in spite of the national insurance fund, which pays for it, having a predicted £16.6 bn surplus by March 2001.

PENSION CURB FOR HIGH EARNERS

N. Montagu-Smith

Daily Telegraph, Feb, 23rd 2000, p.34

Social Security Secretary Alistair Darling announced that high earners would not be able to hold both a final salary scheme and a stakeholder pension when they were launched. He gave details of a simplified tax regime for stakeholder pensions to be included in this years' Finance Bill.

TORIES COULD LET PEOPLE OPT OUT OF STATE PENSION

A. Sparrow

Daily Telegraph, Mar. 6th 2000, p.8

David Willetts, shadow social security secretary, will announce that the Tories could let people cut their national insurance contributions on condition that they fund their pensions themselves. He will stress that the Tories do not want to compel people to change pension arrangements.

(see also Independent, Mar. 3rd 2000, p.3)

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