Publisher's Synopsis
Following on from the Green Paper (Cm. 5677, ISBN 0101567723) published in December 2002, this document sets out the Government's plans for reform of the occupational pensions system. The government remains committed to maintaining the State Pension age at 65. A Pensions Protection Fund will be set up, to guarantee pensioners a specified minimum level of pension if the sponsoring employer becomes insolvent. Solvent employers who choose to wind up their pension schemes, will be required to meet their pension promise in full. Age discrimination will be outlawed to enable people to work for longer, if they wish to do so. The normal pension age for public service occupational pension schemes will be raised to 65 (rather than 60, as at present).
