National savings level not fixed to retirement saving

In its most recent discussion paper, and as part of a response to several comments made after the first Pensions report, the Commission believes all forms of saving need to be considered in assessing the adequacy of resources for retirement. It argues analysis of the ‘adequacy’ of a pension system can only proceed via bottom-up analysis of the savings stocks and flows of a select group of individuals already accumulated, the amount of savings occurring, and the likely amount of funds accumulated at point of retirement. The Commission believes trends in the national savings rate are lik...