date: 24 May 2007

embargo: 17:45: 24 May 2007

TUC welcome for trust status and consumer involvement in new personal accounts pension scheme

The TUC has given a warm welcome by the announcement by John Hutton at the National Association of Pensions Funds Annual Conference that the new system of Personal Accounts would be a trust based occupational scheme and that a Members Panel would nominate trustees.

TUC General Secretary Brendan Barber said, 'This is extremely welcome news. Ensuring the new Personal Accounts system is independent from government and giving members a strong voice are both crucial ingredients in ensuring the new system is a success. Ministers have been listening and this decision is likely to win wide support. It will further strengthen the consensus behind the new post-Turner pensions settlement.'

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Contacts:

Media enquiries: Elly Brenchley T: 020 7467 1337; M: 07881 622416;
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Liz Chinchen T: 020 7467 1248; M: 07778 158175; E: media@tuc.org.uk

Press release (200 words) issued 24 May 2007