Thursday, May 25, 2006

UK reforms

The British government has today presented proposals for a wide ranging reform of that country's retirement provision system (via BBC). At first reading, the reform seems to address improving retirement income by raising the first and the third pillar. This is to be achieved by introducing default personal accounts with an opt-out option, but also recognising the increased life expectancy by raising the so-called state pension age to 68. Changes to recently modified occupational pensions are not in evidence.

The BBC has an in depth dossier on pensions.

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