§ The Secretary of State for Work and Pensions (Mr. Andrew Smith)Today, I am pleased to announce that Sir Peter Davis, Group Chief Executive of J Sainsbury PLC has agreed to chair an Employer Task Force on Pensions.
A vital part of the proposals set out in our pensions Green Paper "Simplicity, security and choice: Working and saving for retirement", Cm 5677, is the renewal of the partnership between individuals, employers the financial services industries and Government.
There is no doubt that the people retiring today with the best pension have been helped to do so by their employer. We want the Task Force to help build on that success and encourage more employers large and small to recognise the value of good pension provisions and to identify and promote good practice in providing and promoting pensions. The Task Force will also provide advice to me on the role of the employer in the pensions partnership.
43WSWith the appointment of Sir Peter Davis we are putting the right leadership in place to fulfil this remit. His extensive business experience will be a valuable asset in helping to make a success of future pension provision.
I will be considering comments in response to consultation on the Green Paper on the Task Force, and will report back to the House on the wider membership, terms of reference and timetable in due course.