The study comes in response to calls from the People’s Pensions Coalition for a long-term debate on the issue. Opposition parties, the Pensions Policy Institute, and the Institute for Fiscal Studies will be invited to contribute, among others.
But Aon Consulting believes the timing of the report is “nonsensical”. Its senior consultant, Chris McWilliam, says: "We welcome the move by the Government, although a little late in the day. However, with the findings of the study due out after the Pensions Bill becomes law, it could be a case of shutting the gate, once the horse has bolted.
“It is essential, therefore, the Government addresses the timing issue by ensuring that the legislation is couched in such terms that it can take into account the findings of the report once they are known.”
The DWP confirms that the Pensions Bill is expected to go through Parliament this summer, while the results of the review are expected to come out towards the end of the year, after the Bill has gone through Parliament.
A DWP spokesman told <i>HR</i>:“There is a consensus amongst stakeholders and members of the opposition that this issue is a long-term matter which needs careful consideration but is not something which needs to affect the passage of the bill or indeed the overall structure of pension reform.”
