15 October 2009 – Pensions reform consensus more important than ever

Yvette Cooper today said that the consensus that had brought us to the brink of the most radical reform of the pension landscape since the Second World War, was more important than ever as the countdown to auto-enrolment and Personal Accounts begins.

Speaking at the NAPF Annual Conference in Manchester, Ms Cooper said to delegates that it is crucial to keep working together to help people to save for their retirement. With the finishing line in sight, she urged everyone to continue playing their part in delivering Personal Accounts and the auto-enrolment of workers into a workplace pension scheme.

Yvette Cooper said:

"We have worked really hard to build a consensus around the Turner reforms. Thanks to everyone's hard work, millions of people will have the chance to save for their retirement, many for the first time. This consensus gives us the chance to implement the most radical pension reforms for generations. It is more important than ever to pull together. It is crucial that people don't undermine the consensus now. We have to implement our reforms for those people who need and deserve better pension provision."

Yvette Cooper also asked for industry and employers to come forward with their views and evidence as part of the review of the Default Retirement Age (DRA), announced in the Ageing Strategy in the summer.

Yvette Cooper said:

"People need choice in retirement. Now is the right time to look again at whether we should have a default retirement age at all. I spoke to people in Manchester today who are in their late sixties and early seventies and have chosen to work. We need to give people the choice about how long they work and when they retire and that means changing employment practices too. That is why we are asking businesses to contribute evidence to our review of the Default Retirement Age."

Notes to Editors

Yvette Cooper, Secretary of State for Work and Pensions, was speaking at the NAPF Annual Conference in Manchester today.

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