The Green Paper on Pensions was published on the 17th October 2007 and a major consultation process is now underway. Following the completion of the consultation process, a framework for long-term policy will be developed.
Pensions is one of the major issues the country must tackle for the future and any decision taken at this stage will impact on society for decades to come. Given the importance of the issue, I am anxious to ensure that the consultation process is as inclusive as possible and that people have ample time to study the Green Paper and to formulate their ideas and comments. Therefore, I intend to leave it open until the end of May 2008.
Once the consultation process is completed, work on developing the framework for future policy will commence. At this stage, it would be my intention to see this work completed and proposals submitted to the Government for consideration by the end of 2008.