Pensions minister Rt Hon Ian McCartney MP will be the keynote speaker at an ABI (Association of British Insurers) conference on the Government’s plans for a new pension credit on Wednesday 28th November.

This will be the first opportunity following the Chancellor’s Pre-Budget Report the previous day to debate the Government’s proposals for combating pensioner poverty and encouraging saving.

Other speakers at the conference include Gordon Lishman, Director General of Age Concern England and Ruth Hancock of the University of Leicester.

The conference will be held at the ABI’s headquarters in Gresham Street and will draw a large audience from member insurance companies, think tanks, Government Departments, trade unions and Parliament.

Speaking in advance of the event, Stephen Sklaroff, Deputy Director General of the ABI said:
“Pension reform is high on the political and industry agenda, as Stakeholder pensions are introduced and Government plans for the pension credit reach fruition. The insurance and savings industry will play its full role in the development of these ideas. It is important that we have a healthy balance in Britain between state and private provision. There is currently a £27bn a year savings gap. That is the measure of the distance we still have to travel. We welcome the pension credit idea. It is important that the pension credit encourages more people to save.”

Notes

1. The Government will publish legislation soon to implement its plans for a pension credit.
   
   
2. The pension credit is designed to current pensioners for their savings so that saving will always result in an increased income in retirement.
   
   
3. For further enquiries contact:

   Malcolm Tarling
   020 7216 7410   (Mobile: 07776 147667)
   
   Alan Leaman
   020 7216 7440   (Mobile: 07957 482330)
   
   

4. An ISDN line is available for broadcasts.