An appraisal of the Pensions White Paper proposals

Purpose – This paper seeks to evaluate the Pensions White Paper proposals against down to earth and relatively obvious objectives and criteria; and to suggest some options – no matter how politically difficult – which need to be considered. Design/methodology/approach – The paper assesses eight objectives which the White Paper should meet, namely: increasing retirement saving and reducing the savings gap; adequate minimum income for all aged over 75; incentives for retirement saving; simpler retirement saving products; tidying up state saving schemes; public sector and private pension provisioning; retirement saving products and arrangements for changing times; and stability for the future. Findings – The White Paper has the hallmarks of a compromise and politically crafted palliative, which is in danger of having unintended and contrarian effects towards reducing rather than increasing pension savings. Originality/value – The paper offers a critical appraisal of the Pensions White Paper proposals.