With the Government recently announcing the revival of the Pensions Commission to address widespread under-saving for retirement in the UK, The Investing and Saving Alliance’s has commented.
Renny Biggins, Head of Retirement at TISA, said:
“The recent findings underline the scale of the challenge, with a worrying number of people sleepwalking towards retirement poverty and significant under-saving across key groups. While it’s disappointing, though not unexpected, that minimum contributions won’t be raised this parliament, TISA fully supports the revival of the Pensions Commission to address these issues and chart a long-term path for reform that delivers for consumers.
With Pension Dashboards, Targeted Support, and more flexible savings options already on the horizon, the industry must take the lead in helping people save more where appropriate, especially those currently underserved, such as the self-employed. Products like LISAs should also form part of a more flexible retirement savings landscape. TISA looks forward to working with the Commission to deliver practical, consumer-first solutions that close the savings gap and improve retirement outcomes for all.”
