The UK’s pension system needs systemic, long-term solutions to ensure everyone can afford to retire, according to panellists at the Pensions UK Annual Conference in Manchester.
Improvements in state pension provision have not been matched in the private sector, and the industry faces an uphill battle to solve its adequacy problem.
Any definition of adequacy needed to factor in the large number of people who were not even saving into a pension.
Helen Dean, chair of the Standard Life Master Trust, said too many people were excluded from the pension system.
By Samantha Downes. Author's summary: UK pension system needs long-term solutions.