Oral question asked in the House of Commons, by John Heppell (Labour). It was answered on Monday, 2 February 2009 on behalf of the Department for Work and Pensions.

Occupational Pensions

Question: I thank the Minister for that answer. With the CBI and the TUC telling both employers and employees that now is not the time to withdraw or withhold pension contributions, what can the Government do to strengthen that message and get it across to people that pensions are now safer and a better long-term investment than they have ever been in the past?

Answer: My hon. Friend is right. I welcome the consensus on such a long-term approach. Obviously, fluctuations in markets will affect the value of assets in the short-term, but the fact is that it is the long term that is important for pensions. The framework that we put in place in 2004 is stable and durable, but it is important that we continue to work with the pensions industry to ensure that we respond to the points that are made. It is also important that we work together to give out the message that pensions are one of the best means to save for retirement.

Secondary information