Pensions campaigner Dr Ros Altmann has called for the introduction of a National Wealth Service with free financial advice health checks to keep savers on the right track.
Speaking at The Hartford's Facing Retirement Forum, Altmann urged the government to consider a higher basic state pension, warning the UK is heading for a 'dire pensions crisis' as people shun savings. Blasting the state pension as 'the worst of any developed country,' as people cannot live on it, she says the current pension "has discredited our wider pensions system." "To help tackle this situation, we should create a 'National Wealth Service' in a similar vein to the NHS, which would provide financial health checks for everyone every few years," she says. Altmann also called for th...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes