Pension reform hurdles

Any plan to reform the pensions system must pass five tests that will secure its longevity and sustainability says John Hutton, secretary of state for work and pensions. Hutton says: “As my predecessors have made clear, the primary responsibility for security in old age must rest with the individual and their family. The state must provide a floor below which nobody should fall but it must also allow everyone the opportunity to build a decent retirement income.”