Andrew Smith, Pensions Minister, has said that people need to work longer to guarantee their income and quality of life in retirement. He was speaking at the Pensions Management Institute Conference two weeks ago and whilst he believed that working longer was of benefit, it should be in tandem with encouraging people to save more to bridge the savings gap.
Our view
Thanks Andrew. We assume that you will propose that the Civil Service Pension Scheme and the Members of Parliament Pension Scheme will also have premium contribution levels increased for members and the retirement age extended to say 70? Pull the other one. 'I'm all right Jack' - we think is the phrase.
Learn more about pensions in the Pensions Adviser.com.
Need some help or advice, visit the Help Zone to find out about all the different ways we can offer advice.
Why not try our range of calculators to see what you should be saving?
Compare, search and buy a pension in the Apply and Buy section.