.jpg&w=3840&q=75)
The Pensions Commission has now published its Interim Report, highlighting three main findings: private pensions are key to securing adequacy; the state pension has reached the proportion of average earnings envisaged by the original Turner Commission; and decumulation needs strong well-designed defaults.
The report makes a powerful case for a new national settlement for pensions. Automatic enrolment is a sturdy foundation, but must evolve to meet the scale of the challenges ahead.
We and our members stand ready to work with the Commission to deepen saving, extend coverage and support better decisions in retirement, so that everyone can look forward to greater financial security in later life.
Dr Yvonne Braun OBE
Director of Long-Term Saving Policy