Former TSC chairman Lord McFall will direct an independent inquiry into the failings of the current private pension system, as new figures show there has been the equivalent of one piece of fresh pension legislation every week since 1995.
The Workplace Retirement Income Commission (WRIC) was initiated by the National Association of Pension Funds (NAPF) and will report on its findings in October. A recent YouGov poll suggested as many as 43% of workers believe they will not be able to afford retirement, and McFall says today's workforce is on "a collision course with a long retirement spent in poverty". "We need to find a sustainable and more universal approach to saving for retirement," he says. "Even with auto-enrolment, up to nine million people risk being left behind and we have to make it easier for everyone to s...
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