Govt must encourage pension saving among UK workers, ABI suggests
Date posted: 14 Jul 2010
The government must take action in order to encourage the country's workers to improve their focus on pension saving, according to one organisation.
Published by Louise Border.
Ministers should aim to further promote the importance of pension saving to the UK's workforce, the Association of British Insurers (ABI) has suggested.
A variety of measures have been outlined by the organisation, which it believes could enable people to put more money aside towards their retirement years.
Among these proposals, the ABI would like the government to avoid any action which would postpone the launch of the 2012 auto-enrolment scheme.
Meanwhile, it also wants to see consumers provided with simpler pension saving guidance.
Director of life and savings at the organisation, Maggie Craig, commented that action is required in place of analysis.
She stated: "It is vital that the government communicates honestly with people, explaining exactly why people need to save more and giving individuals a target to aim for."
Pensions minister Steve Webb is this week due to speak at the ABI's Savings & Protection Conference.
Please contact Ed Turner, head of services for individuals, for further information or call 01223 225196
Click here to email or call on 01223 225011 or 020 7382 8011.
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