Norman Baker MP Member of Parliament for Lewes constituency
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East Sussex,
BN7 2LJ.
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Lib Dems make tough choices to guarantee Citizen's Pension for all
Lewes MP Norman Baker has backed new Lib Dem plans for Pensions Reform, ahead of next week’s publication of the final report of the Pensions Commission. The Lib Dems propose to transform Britain's inadequate and complex state pensions system, with the introduction of a universal Citizen's Pension. The Citizen's Pension would be paid at £109.45 per week (2005/06 figures), instead of the £82.05p basic state pension. The pension would rise year-on-year in line with the increase in average earnings and would be paid to all those over state pension age.
The Liberal Democrats will pay for these reforms by making tough choices on the pension age and reform of public sector pensions. Specifically;
- Scrapping the State Second Pension and cutting back means-tested benefits
- Increasing the state pension age to 67, with a 25 year lead in time before anyone is affected
- Reforming public sector pensions to put them on a more sustainable footing
- Boosting private savings, with all employees being automatically enrolled in non-state pensions, with a right to opt out.
Commenting on his party’s proposals, Norman said:
"Securing a fair, sustainable pensions system that tackles pensioner poverty is one of the biggest challenges of this Parliament. We have one of the lowest state pensions in the developed world, and one of the most complex systems. Women, in particular, suffer real discrimination. We need a state pension that is universal - a Citizen's Pension, linked to earnings, based on residency and set at a rate which guarantees to lift all our pensioners out of poverty from the age of their retirement. And if Parliament is to be taken seriously, then it must start by looking at the pensions system for MPs which is among the most generous in the public sector.
"These proposals for a Citizen's Pension will result a simpler, fairer and better state pension system, boosting private saving and removing the barrier to saving created by mass means-testing. There will be a real incentive to save because those able to do so will know that every pound saved will make them a pound better off in retirement. We would scrap the Second State Pension, and use the power of inertia to boost pensions, by requiring all employees ultimately to be opted into a pension, which they would be able to opt out of.
"The Turner Commission gives us a rare opportunity to build a consensus for long-term pensions reform. We cannot afford to lose this opportunity and my Lib Dem colleagues and I are determined to play our part in constructive dialogue, with detailed plans and a willingness to confront the tough choices needed."