UK: Lord Turner’s Pension Report released

Deliveringhis long-awaited report on the reform of the UK pensions system, LordTurner said the UK faced a choice: pensioners will get poorer, “or weshould expect a relentlessly means tested system; or public expenditureon pensions must rise as a percentage of national income; or the statepension age must rise”.

His450-page report, which has been three years in the writing, recommendsthe introduction of a universal basic state pension with entitlementbased on residency, rather than national insurance contributions, whichwould provide a platform for workers to build other savings

Read the rest of this article in The Guardian.  Or go whole hog and read the entire 450 pages.