Government policies aimed at reducing the liability of the state for supporting people in retirement could fail due to being managed across different departments, auditors suggest.
A report from the National Audit Office (NAO) has found there is “no overarching programme or single accountability” for encouraging people to save for retirement. It said the Treasury leads on overall savings strategy, and the Department for Work and Pensions on workplace saving but, without a whole system view “there is a risk that individual, but co-dependent interventions may not be effective in increasing saving for retirement”. National Audit Office head Amyas Morse said: “The government is implementing a range of individual measures to help reduce the future cost for the state ...
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