ABI comment on the revived Pensions Commission

Comment from the ABI on the Department for Work and Pensions (DWP)'s announcement that it will revive the Pensions Commission to examine why future pensioners are on track to be poorer than today's and make recommendations for change. 

Yvonne Braun, Director of Long-Term Savings Policy at the ABI said: “We are pleased about the announcement of the new Pensions Commission. Automatic enrolment has been transformational, reversing the decline in the number of people saving for retirement. But without further action, tomorrow's pensioners are at a real risk of being poorer than today's. Much has also changed since the first Pensions Commission, with pensioners renting in much larger numbers, and the rise in self-employment, all of which impacts people's retirement finances.

“The Pensions Commission is a crucial opportunity to build on the progress of its predecessor 20 years ago, address the gaps, and shape a new pensions settlement that endures for the long term.”