25 May 2006
The Pensions White Paper represents the "best chance" of facing up to the challenges of providing for people’s retirement, Tony Blair said today.
A stronger Basic State Pension, re-linked to earnings from 2012, would be backed up by a new savings scheme giving everyone the chance to top-up their pension "through their own thrift and endeavour."
There will be more help for woman and carers, the White Paper reveals, as well as a later retirement age to reflect longer life expectancies.
The plans, based on the Pensions Commission report of last year, were "strong, sustainable, workable and affordable" Tony Blair told reporters.
He said it was a "landmark day", adding:
"We have put together a package where the Government is going to do more, employers are going to do more and individuals are going to do more.
"This is an important moment for the country and for the long term. This has involved difficult decisions and hard choices but is essentially fair… and offers people a future they can look forward to, rather than one they’re fearful of."
Mr Blair, alongside Work and Pensions Secretary John Hutton, then spent time with youngsters from Swanlea School, Tower Hamlets to talk about pension issues.
More on the White Paper
People are living longer in the UK, and having fewer children, which has led the Government to look closely at how to provide for people’s retirement.
Volunteers from around the country made their voices heard during the consultation process of the White Paper.
delicious
digg
facebook
