Enable defined benefit pension schemes to link retirement age to longevity
Amend Section 67 of Pensions Act 1995 to enable defined benefit pension schemes to link their retirement age to increasing longevity for accrued rights.
Why does this idea matter?
A) help wipe out the majority of pension fund deficits which will help UK PLC in this time of recovery
B) encourage employers to recondsider defined benefit based pension provision which provides a more certain income in retirement
C) higher pension provision will mean less call on Social Security budgets in the long term which means
D) less taxation in the longer term and
E) more focus on saving plus
F) more capital for investment