Personal PensionJul 18 2013

Lords slam politicians’ bid to tackle pension gap

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The government needs to be open with the public about the challenge of the ageing society, Lord Filkin, chairman of the House of Lords Public Service and Demographic Change committee, said.

Lord Filkin said his committee found society was “woefully underprepared” for ageing and the government appeared to be wilfully underprepared.

He said: “We need the government to publish a white or green paper as an analysis of this issue and to be straight with the public about the choices. The Government have failed to commit to this.

“Government’s job is to lead informed debate for our society, individuals and business on how we all address our biggest social change and challenge to ensure it is beneficial – not a crisis.

“We are pleased the government will ask their chief scientist to review the impact of ageing but this alone will not be enough to tackle the momentous issues we face.

“Government and all political parties prefer to keep the public in the dark in the run-up to the election about the looming challenges to our welfare settlement. Yet how political parties will address these imminent challenges ought to be central to the election debate.

“The government’s focus is on past achievements and the coming election rather than what we need to do to address this major social change and how we re-shape our welfare settlement to be fair to all generations, young and old.

“In the light of this the members of my committee intend to challenge all political parties to address these issues properly and honestly before the next general election.”