Major pensions report highlights crucial challenges facing UK

Just over 12 months ago, the Government announced that it was reviving the Pensions Commission to “confront retirement crisis that risks tomorrow’s pensioners being poorer than today’s”. The Commission of 2006 is viewed as hugely successful having built a consensus for the roll-out of Automatic Enrolment which has resulted in 88% of eligible employees now saving into workplace pensions compared to 55% in 2012 – which is a rise of around 11 million extra savers. Now some 20 years on from the first Commission, the second Commission has published its interim report. The conclusions are hardly surprising. As well as Auto Enrolment expanding workplace pension coverage dramatically and the new State Pension meaning more generous, equal coverage between men and women through the state system ther