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The generation retiring in the
The generation retiring in the future will be different in many ways
from its predecessors.Their jobs will have been different; the expectations
of women will be transformed; their retirements will be longer and
healthier.We have begun to lay the foundations for the pensions system
of tomorrow, for example, by: introducing the State Second Pension to
ensure carers, low earners and disabled people have a chance to build
up a decent pension for the first time; encouraging automatic enrolment
into company pension schemes; creating the Pension Protection
Fund; enabling pensioners for the first time to work part time and draw
down their occupational pension; as well as offering an increased state
pension or lump sum for those deferring their pension.We will work to
increase the proportion of pension fund trustees nominated by scheme
members, along with access to proper training.We will keep this issue
under review, with consultation in the expectation of further progress
to 50 per cent member-nominated trustees.