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November 30, 2005

Turner and turn again

A very busy day here on the Times Online Business desk, dealing with coverage of the Turner Report on pensions this morning

After an interim report a year ago and some judicious leaking to national newspapers, the report contained few real surprises. The retirement at 68 idea was less of a potential "shock" after the concept of state pensions at 67 had been widely trailed, and the concept of "soft compulsion" for employees and employers to contribute to savings schemes was also expected.

Of course, none of Lord Turner's work will amount to anything unless the Government - and in this case, that means Chancellor Gordon Brown - decides to accept the recommendations and introduce them as legislation. And first indications are that the chances of that happening are decidedly slim, so the Turner Report may yet be another Government-inspired document that ends up gathering thick layers of dust on journalists' bookshelves.

You can, of course, make up your own mind by reading the 1,000-page report yourself here, or, if you prefer Times journalists to do some of the digesting work for you, you can read Christine Seib and Andrew Ellson's Q&A here, take in Philip Webster's political analysis here, gauge the reaction of business and lobby groups, or read the views of a pensions expert.

But we also want your views and opinions on the recommendations and reforms. You could simply take part in the Times Online pension poll.

Or you can send us your views here. We would reckon that raising the pension age is unlikely to be popular with anyone - did someone mutter something about christmas, turkeys and voting? But consider this: how many people these days opt to continue working beyond their obligatory retirement age not because they have to (and we are well aware that there are many people in that category), but because they actually want to.

Of course, it might just be a part-time job, something for modest pay, but just enough to get you out of the door on a few mornings. But as we all have much longer life expectancies than 50 years ago, how many of us really relish the prospect of endless, empty afternoons, with little to do beyond watching Richard & Judy?

Posted by Times Online business desk on November 30, 2005 at 06:00 PM in Pensions | Permalink

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