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Think-tank calls for pensions 'champion'

By Wesleyan

Pension savers should get a new champion after the next general election to help them plan for their retirement, a think-tank has urged.

The International Longevity Centre-UK warned that several people will not have enough money set aside for old age.

It said that, despite moves to stimulate greater savings, a pensions commission should be established this year to independently help people become financially better equipped.

Such a commission would set pension targets, keep check on whether these goals are being met, and decide if further pension policy rule changes are required.

The Prime Minister, Chancellor and Work and Pensions Secretary of whichever party is in power after May 7 would be reported to by the new commission.

The automatic enrolment scheme is one of a raft of reforms launched under the Government in recent times to get people to save more for their old age.

Copyright Press Association 2015

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