NOW:Pensions has commissioned a very interesting report on the future of pensions. There is far too much for me to consider here but I thought you might be interested to hear some of the experts’ views of the future… For the full report, please email us and we will send it to you.
“Can a government of the future bite the bullet and try to raise contributions to 10% or 12%? They managed to do this in Australia”
“People have no idea what ‘adequate’ means at the moment. The processes around auto-enrolment have proved incredibly complex for employers to understand, and there is evidence coming through from the research I do that once again this is just so painful, why don’t we just make it compulsory?”
“My hope for 10 years after its inception is that we see automatic enrolment has been efficient in getting 80% to 90% of working people into some form of pension scheme”
“The government has a lot of work to do if they want to ensure people have adequate pension savings”
“When it comes to pension policy, the government is highly inconsistent and whichever party is in charge will probably change it in a matter of years even in the next parliament”