Radical rethink on pensions is needed - Altmann

Delivering her stark warning at the Tax Incentivised Savings Association (TISA) Retirement Savings Conference, Altmann says the baby boomer generation will drive a huge growth in the UK population over 65, from 2010. She calls for a flat-rate state pension with changes to allow lifetime savings to be a linked supplement to, rather than a replacement for, later life income. This must be a core component in the proposed reform of 21st Century pensions and is essential to restoring consumer confidence, plus encouraging people to focus on their financial retirement needs, she says. Altman...