The government must make it simpler to transfer long-term savings such as pensions to children and other descendents, the Association of Consulting Actuaries (ACA) said.
It said the inter-generational inequality in pension saving is too wide, as part of its response to the Workplace Retirement Income Commission's (WRIC) call for evidence on improving pension saving.
"We applaud the moves made to date but would like to see bolder policies," said Stuart Southall, chairman of the ACA (pictured).
"With many commentators highlighting severe and widening inter-generational inequalities, we would suggest that government could usefully consider how inter-generational transfers might be facilitated, not as a means of IHT mitigation, but so as to broaden the genuine reach and appeal of long term saving."
Currently, the tax rules surrounding passing on pension funds or benefits to others, either before or after death, are notoriously complicated.
Southall also said employers should be encouraged to provide financial advice to staff, and that this could be achieved by abolishing the £150 tax free limit on independent financial advice paid for by the employer.
He added the government must also implement financial education in schools to create a culture of saving rather than spending.
The ACA, in line with other respondents to the WRIC, recommended a tax incentive to employers to provide workplace savings vehicles.
The Treasury announced in April it will support employers to create new and more flexible workplace savings vehicles such as corporate ISAs.
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