The Government must do more to inform individuals about the forthcoming single-tier state pension system which will affect around 40 million Britons, a report by the Work and Pensions Committee has said.
The number of defined-benefit private sector pension schemes in deficit fell again in February, after monthly decreases in January and December 2012, according to the latest figures from the Pension Protection Fund (PPF).
Restrictions on the amount workers can save under the National Employment Savings Trust (NEST) auto-enrolment pension scheme should be removed if it is to successfully encourage saving, a Work and Pensions Committee report has advised.
Most individuals welcome the Government's drive to automatically enrol eligible employees into a qualifying pension scheme, however many employers are unprepared for their responsibilities, research from the National Employment Savings Trust (NEST) has found.
There was mixed news at the start of 2013 for UK pensions, as one report found that the private sector pensions deficit fell slightly but another warned that expected retirement income reached a six-year low.