The Actuarial Profession, Staple Inn Hall, High Holborn, London, WC1V 7QJ, 16:30, 24 March 2009
A public debate to explore how recent economic turbulence impacts the UK pension reform agenda, made possible by the support of Xafinity Paymaster.
It has been a remarkable year: the freezing of the global financial system; the effective nationalisation of the UK banking industry; rising job insecurity and inflation volatility.
In the background to these historic events, the UK is quietly engaged in a major raft of pension reforms centred around Personal Accounts, which seek to significantly change the savings habits of millions of UK workers.
Yet when the Government passed the Pensions Act in July 2007, few had planned for what was about to unfold. As the UK faces up to a sharp recession and slower economic growth, there is a clear need to take stock and reflect on how pension reform will navigate this changed environment.
This debate explored the questions:
- What do the dramatic events of the last year mean for UK pension reform?
- How will young workers targeted by the Government, buffeted by job insecurity and falling house prices, react to Personal Accounts?
- Will recent turbulence actually work in favour of Personal Accounts, for example, given many younger workers will no longer regard investing in property as the best form of retirement saving?
The panel for this debate included:
- Tim Jones, Chief Executive, Personal Accounts Delivery Authority
- Niki Cleal, Director, Pensions Policy Institute
- Sir Nicholas Montagu, Xafinity
Agenda from the event:
16.00 - 16.30
Registration and Tea
16.30 - 16.35
Welcome by Chairs: Seamus Creedon, Institute of Actuaries and Baroness Sally Greengross, Chief Executive, ILC-UK
16.35 - 16.50
Presentation by James Lloyd, Head of Policy & Research, ILC-UK
16.50 - 17.00
Nigel Waterson MP, Shadow Pensions Minister & Shadow Minister for Older People (TBC)
17.00 - 17.30
17.30 - 18.25
18.25 - 18.30
Summary by Chair
Close and Drinks