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date: 5 February 2009
embargo: For immediate release
Commenting on the DWP report 'Saving For Retirement: Implications of pensions reforms on financial incentives to save for retirement' published today (Thursday), TUC General Secretary Brendan Barber said:
'This rigorous research shows that the great bulk of people are likely to be better off in retirement when auto-enrolment into an employer scheme or a personal account starts in 2012.
'It should close down the argument from those who say that means tested benefits will make such pensions saving a bad deal for substantial groups in the workforce. Talk of mis-selling the new pensions has always been a strange use of language. After today's report it will be downright irresponsible.
'Of course there are always risks with any form of saving, but it is now as clear as possible that the vast majority people will be better off saving in a pension, particularly when you add the certainty of having your own pension pot against the vagaries of future means-tested benefits.'
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