We are pleased about the announcement of the new Pensions Commission. Automatic enrolment has been transformational, reversing the decline in the number of people saving for retirement. But without further action, tomorrow’s pensioners are at a real risk of being poorer than today’s. Much has also changed since the first Pensions Commission, with pensioners renting in much larger numbers, and the rise in self-employment, all of which impacts people’s retirement finances.

The Pensions Commission is a crucial opportunity to build on the progress of its predecessor 20 years ago, address the gaps, and shape a new pensions settlement that endures for the long term.