Means-testing is no quick fix - CIPD

clock

The Chartered Institute of Personnel and Development has warned Government they are living in a ‘fool's paradise' if they think abandoning means-tested benefits will solve the current pensions crisis.

The comments follow repeated warnings from chairman of the Pensions Commission, Adair Turner, who suggests the current policy of means-testing certain benefits is putting people off savings for retirement. Turner was providing evidence to the Commons Work and Pensions Committee yesterday. Pensions Adviser at CIPD, Charles Cotton called for greater focus to be put on pensions communications, with evidence revealing employers are not properly promoting pensions to their workers. Charles Cotton said: “If the government and MPs think that abandoning means tested benefits for the state pe...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers no longer see inflation as a major concern

Advisers no longer see inflation as a major concern

Funds offering a level of inflation protection were the last research, Square Mile finds

Isabel Baxter
clock 22 October 2024 • 4 min read
Advisers turn to smoothed funds to help manage volatility threat

Advisers turn to smoothed funds to help manage volatility threat

Decreasing exposure to equities also a popular strategy

Isabel Baxter
clock 26 March 2024 • 1 min read
Examining the 60/40: Building diversified portfolios in 2023

Examining the 60/40: Building diversified portfolios in 2023

Advisers have a lot to consider when it comes to portfolio diversification

Charlotte Moore
clock 14 April 2023 • 6 min read