WA51

Government rejects call for retirement at 70

The Government has announced that it will not increase the state pension age to 70, despite recent calls from business groups.

Speaking at the Trades Union Congress, Work and Pensions secretary Alan Johnson said, 'Flexibility is crucial. This Government will not force people to work to 70 years of age'.

The Confederation of British Industry commented, 'We recognise it's politically sensitive to talk about a rise in the state pension age in the period before a general election'.

Mr Johnson also announced that employees may be given a greater say in proposed changes to company pension schemes, with the requirement that at last half of scheme trustees must be nominated by members.

However, the National Association of Pension Funds warned that the move could harm employees, by turning employers away from trust-based schemes.

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