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The Actuary The magazine of the Institute & Faculty of Actuaries

Turner debate

Throughout January and February debate has continued on the analysis and recommendations of the Pensions Commission, as reported in our January/February issue. We were struck by the following assessment from Aon Consulting:

‘We do not think the Turner recommendations are likely to be implemented, despite the fact that many of them have been welcomed by the industry.

‘The proposals amount to a radical reform of the UK pensions system. No country has ever implemented radical reform of its pension system unless the reform has had the active, personal commitment of the minister responsible for finance. It is clear that Gordon Brown does not have this commitment to the Turner recommendations.

‘Nevertheless, Turner’s analysis and recommendations are likely to have an influence on pensions policy in the longer term, and are certain to be the subject of intense debate over the next 12 months.’