‘Back of an envelope’ pensions bill puts security in old age at risk, says TUC

Responding to the publication today (Tuesday) of the government’s Taxation of Pensions Bill, TUC General Secretary Frances O’Grady said:

“Re-announcing his plans to allow the over-55s to dip into their pension pots does not make George Osborne's hastily cobbled-together policy any less rash.

“The suggestion that savers could treat their pension savings as a bank account is irresponsible.

“We need further pension reform to ensure that people have adequate incomes in their old age. But this should be considered and consensual, not rushed out through a bill published on the back of an envelope with an eye on next year’s election.”

NOTES TO EDITORS:

- All TUC press releases can be found at www.tuc.org.uk

- Follow the TUC on Twitter: @tucnews

- On Saturday 18 October the TUC is organising Britain Needs a Pay Rise – a national march and rally in London to call for an economic recovery that delivers for everyone, and for fair wages to help end the living standards squeeze. For more information on the campaign go to www.tuc.org.uk/economic-issues/britain-needs-pay-rise