Joe Benton MP welcomes government green paper on pensions

Joe Benton MP has welcomed the Government's Green Paper, Simplicity, Security and Choice: Working and Saving for Retirement, and called on employers and employees in Bootle and Sefton to consider carefully the Government's proposals.

“These measures will make it easier for people in Bootle and Sefton to save, easier for companies to offer pension schemes and easier for people to work longer if they want to” said Joe Benton. Everyone should be thinking about planning for their retirement especially given the fact we are all living longer”

Key proposals included:

• Maintaining the state Pension age at 65
• Greater protection for pension scheme members
• Biggest ever shake up of pension tax system
• Promoting employment amongst older people
• Tailored Information to help individuals plan for their retirement

The Government tackled pension reform head on as it published a radical strategy to help people plan their retirement with confidence with a twin approach to encourage more saving and promote longer working lives.

Wide ranging proposals designed to boost choice in private pensions as well as incentives to encourage older workers to remain in employment are proposed in the Green Paper.

Work and Pension Secretary, Andrew Smith said: “The aim of the Green Paper is to help people choose how they plan for retirement, how much they save and how long they keep working. Its proposals tackle complexity by introducing radical simplification, renew confidence by enhancing security and help people plan and save by boosting choice and information.

Local MP Joe Benton “Whereas the Tories left millions of pensioners in poverty, increased VAT on fuel and presided over pension mis-selling, Labour has helped the poorest pensioners - by next year the poorest third will be £1,500 better. This bold green paper takes us even further enabling people to choose the option for retirement that suits them best by sweeping away much of the complexity and restrictions in the current system. ”