Pensions
Resolved,
That this House recognises that the UK has the largest stock of private pension saving in Europe and a tradition of pension partnership at the workplace which leaves it well placed to rise to the challenge of longer lives; welcomes the conclusion of the Work and Pensions Committee that the UK pensions system is "basically sound"; further recognises that there are pressures on pension systems at the moment and supports the Government's proposals, as outlined in the recent Green Paper, to renew the UK pensions partnership, to introduce further measures to bolster the UK system which better focus regulation on contemporary anxieties, and to increase security without increasing the overall costs of running pensions; strongly endorses the Work and Pensions Committee's judgement that "current policies have been successful in reducing pensioner poverty"; further recognises that this is of particular benefit to women; welcomes the state second pension which will provide lower earners, disabled people and carers, some 18 million people most of whom are women, with a better pension; believes that good pensions policy must be built on a foundation of the basic state pension, which has increased in real terms for three years in a row; and looks forward to the Pension Credit reform in October which will ensure that those with modest savings are properly rewarded for the first time.