"Scrap means-testing" - Turner analysis from pensions experts

Heading up the Pensions Commission report, Adair Turner warned if it persists in its current guise, such testing by virtue of its indexing features will create increasing disincentive to save for retirement. In close relation to means-testing, pension credit is a ‘central issue’ highlighted by Steve Bee, head of pensions strategy at Scottish Life, who says existing pension schemes are more likely to be closed than new pension schemes opened by employers. Commenting on his Beehive site, Bee believes that the pension crisis has been worsened by Pension Credit system, which brings more peo...