01/2/2010
By Sophie Baker
Former National Association of Pension Funds (NAPF) chairman, Robin Ellison, is to lead the 'U Party', a new political group aimed at the centre ground with the principal aim of campaigning for UK pensions reform.
The U Party will have a three-part objective for pensions reform, aiming to establish: a simple and understandable regime for workplace pensions, replacing the current three or four state schemes with just one plan; a simple regulatory regime for workplace pensions, to cope with the barriers employers face when putting in pensions under current rules; and a simple tax regime for pensions.
Ellison said the party's target will be to raise the profile of pensions at the next election, and that he has already received support from the growing pension movement in the UK. He will lead a team of pension experts under the U Party, and aims to boost awareness among the electorate of pension policy failings.
"Our pensions manifesto offers a holistic, balanced and sensible reform of the system to allow private pension schemes to flourish, and the state pension system to provide a safety net. Our programme avoids short-term fixes and sound bite ideas, in favour of longer-term strategic planning of the pensions system," commented Ellison.
The aim of the Party is to change the mindset of the main political parties and the civil service when it comes to pension reform.
An improved political process in the UK will also be a focus of the U Party, as well as aiming to offer a middle-of-the-road, pragmatic political offering far from ideological offerings that can be found elsewhere.
The Party also aims to be the 'sensible' party, and in relation to legislation, to pass as few laws as possible, mostly relying on the sensible application of existing laws.
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