Workplace pensions look more like individual savings pots as too much risk is loaded onto members, Institute for Fiscal Studies (IFS) director Paul Johnson is set to warn.
Johnson, who is due to speak at a lecture tonight marking the Government Actuary's Department's centenary, will argue while current pensioners are on average better off than ever and the introduction of auto-enrolment (AE) is drastically boosting workplace pension savings, not everything is working well in the pensions industry. In his speech, Johnson will praise AE, mentioning the high volumes of members in employer-sponsored pension schemes, with seven in 10 now in these schemes. However, he will criticise low contribution rates and warn that defined contribution schemes "place all ris...
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