Pension adequacy – are we focusing on the wrong measure of success?

Over the past decade, the UK pension system has undergone significant change. Pension freedoms, the abolition of the lifetime allowance, the upcoming inheritance tax changes and the ongoing development of pensions dashboards have all transformed how people save for and access retirement income.  Most notably, auto-enrolment has succeeded in bringing millions of people into pension saving, turning pensions from something people had to actively choose, into a normal part of working life. By that measure, the system has been a success. More people are saving than ever before. Yet despite...