David Gauke Quotes

What we should be trying to do is to encourage people to establish private retirement accounts and help them take pressure off the Social Security system.

Employer contribution pension plans have become increasingly popular throughout the past two decades.

I would not be opposed to devising a new system of pensions, in which one part was based on collective provision, but which also gave incentives for people to take out an additional, personal plan.

When employees are first eligible for a retirement savings plan, they should be enrolled unless they choose to opt out.

The U.K. is one of the few places in the world that has final salary pensions.

People have lots of money in super, but they have no money in the bank, and the super funds are not built to help people buy property.

Social Security is an insurance policy. It's a terrible investment vehicle. Social Security has some great benefits. But it was never meant to be a savings plan. So we need to have a national debate. Should this 12.5 percent that we're contributing all go into a Social Security pool, or should half go into a mandatory savings plan?

Increased awareness and education could be a great help toward improving spending and saving habits and increasing participation and contribution levels to retirement plans.

Starting a new retirement plan for those below a certain age is something tens of millions of Americans have already been through at work.

A well-designed 401(k) plan is an enormous competitive edge when recruiting and retaining employees.

Even people who feel perfectly comfortable investing in the stock market and owning their own homes often have qualms about individual medical accounts or Social Security private accounts.

To allow all U.S. workers to put part of their earnings into private investment accounts would definitely erode the Social Security system and cause uncertainty for new investors.

I do believe in pensions.

I have considered the pension list of the republic a roll of honor.

The decision to incentivise savings for pension funds augurs well for infrastructure financing and retirement planning.

Workers are most likely to save for retirement if they have access to a workplace savings plan and are automatically enrolled in that plan.

Payroll savings plans are vital because they are essentially the only way that middle-class Americans reliably save for retirement.

401k savings accounts have become so important in the landscape of retirement planning that their security and expansion became a top priority in formulating and implementing the Pension Protection Act of 2006 that was enacted during my tenure as the U.S. Secretary of Labor.

The former pension minister, the Liberal Democrat Steve Webb said I was trying to abolish the lump sum. Instead, we are going to keep the lump sum and abolish the Liberal Democrats.

When hard-working Brits hand over a chunk of their pay cheque every month so they can look forward to a decent retirement, they are expecting bosses to look after it. That's something you should be able to take for granted.

Whatever your income level is, save as much as you can - up to 20 percent, but more if you can - and invest it. Put that into an IRA; put that into a brokerage account.

A 401(k) is essentially a basket of mutual funds intended to help people save for retirement.

The truth is, if you are a woman saving 10% of your income for retirement, and you put it in the bank account, your chances of retiring well - living on 90% of your pre-retirement income for your full life - is 0%.

Let's also teach people about pensions and savings, insurance and the like. But if they aren't already familiar with numbers that won't be as effective as it might be.

Why aren't you signed up for the 401K? I'd never be able to run that far.