Blog: Time for a radical approach on pensions

The IMA was an early champion of auto-enrolment, which harnesses inertia to increase saving. From the beginning, we argued for NEST when others opposed it. It always seemed to us a no-brainer that a central scheme was the most sensible way of delivering a simple default option for employers that would also be low-cost and portable for employees. Auto-enrolment and NEST will do a lot to promote the savings habit, but it won't be the end of the story. Quite simply, the low contribution levels will not deliver adequate retirement income for many people. Those on middle incomes in particu...