McCarthy concerned by pensions wrangle

9.36.53am GMT Thu 1st Dec 2005

Alliance Assemblyman Kieran McCarthy has said he is concerned that the in-fighting on pensions within government will lead to further confusion.

The Ards Alderman stated: "Broadly the Alliance Party would welcome Lord Turner's report and, specifically, any plans to bring back the link to earnings.

"However, raising the retirement age to 68 would have a disproportionate impact on the poor. Those who really need access to a state pension would have to wait for it, while those able to retire early would still do so. This seems to be a redistribution of wealth the wrong way around.

"We would also prefer to see a greater input into pensions by employers, particularly in the public sector.

"What we need most of all, however, is clear guidance from the Government. These decisions affect many of us for the rest of our lives, and we need to know what savings options we have right now.

"This is far too important a matter to be subject to party-political debate, far less debate within one particular party."

ENDS