Pension v ISA: what future for workplace saving? - 27th June 2016

The coming year will be pivotal for the future of UK retirement savings with a major review of automatic enrolment and the launch of a potential rival to workplace pensions in the Lifetime ISA.

On June 27, the TUC set out its proposals for the future of automatic enrolment with the publication of the report Unfinished Business: Building a fresh consensus on workplace pensions? It continues the long-standing campaign by the trade union movement to secure decent retirement provision for all workers.

The report was launched with a debate between two of the foremost figures in policy making for retirement savings. 

Baroness Drake was one of the three members of the Pensions Commission that revolutionised workplace pensions saving with its advocacy of automatic enrolment a decade ago. She is also a Labour peer and former Deputy General Secretary of the Communication Workers Union.

Michael Johnson is a Research Fellow at the Centre for Policy Studies who has provided much of the intellectual ammunition for a move towards an ISA-based system for retirement savings.  A former investment banker, he later worked for an actuarial consultancy and ran David Cameron’s Economic Competitiveness Policy Group.

TUC Deputy General Secretary Paul Nowak introduced the event and Nigel Stanley, former TUC Head of Campaigns and Communications and NEST trustee chaired the event. 

Tim Sharp, TUC Policy Officer, introduced proceedings and debate on the new TUC publication.