Think tanks Bright Blue and the Fabian Society came together again to make the case for cross-party consensus on ambitious and necessary reforms to pensions policy.
Their report, ‘Framing the future: a new pensions commission’, which was sponsored by The People’s Pension, established that there’s a consensus for a new pensions commission – a successor to the hugely successful Turner Commission.
The report established that there should be a one-off, time-limited pensions commission, which undertakes a strategic review of urgent pensions policy issues and sets out an agreed direction of travel for the coming decades.
The report recommends:
- A new pensions commission should be established in 2020, once we have all the data on how the public have responded to the new auto-enrolment contribution rates in place since April 2019. It should last until 2022 at the latest.
- As part of its work, this one-off pensions commission should be asked to develop plans for how it might be succeeded.
- A future permanent commission could also be tasked with performing regular one-off inquiries.