Labour yesterday gave its clearest signal yet that major reforms of pensions saving would be put back to a fourth term of government.

Speaking at an election campaign press conference on the economy, party spokesman and candidate Ed Balls - a former chief adviser to Gordon Brown - said decisions on issues such as compulsion and the retirement age would not be made in the next parliament.

He said ministers were awaiting the report from Adair Turner's Pensions Commission, which is why the subject is not an issue in this election.

"There will then be a debate after that and future elections will occur before any of those changes get implemented," he claimed.

Briefings given by aides to pensions secretary Alan Johnson backed up his comments.