A simple and affordable way of increasing retirement income.
Michael Johnson, a former investment banker, and Kevin Wesbroom, a leading pensions actuary, discuss the proposals set out in this thought-provoking Centre for Policy Studies paper, published in September 2009.
The paper demonstrates that our expectations of a comfortable and lengthy retirement funded by the state are out of date. It shows how the Government’s proposed Personal Account lacks the flexibility to accommodate future retirement lifestyles and, in any event, will produce derisory additional retirement income for many people. In its place, the paper puts forward eight proposals which could provide a lasting solution to the UK’s looming pensions crisis. These include a more generous State Pension for older pensioners, enhancing the savings of low earners and a simpler State Pension framework. The paper also addresses the crisis of unfunded public sector pensions.
Attendees wishing to read the paper in advance of the seminar can find it at: http://www.cps.org.uk/cps_catalog/don't%20let%20this%20crisis%20go%20to%20waste.pdf