The DWP has announced it is publishing three reports on Monday - ‘Analysis of Automatic Enrolment saving levels, ‘Analysis of Future Pension Incomes 2025’ and ‘Gender Pensions Gap in Private Pensions’ (link at bottom of email) suggesting the Review could be launched Monday, 22 July 2025.
Ahead of the launch of the Pensions Review on adequacy, please see the below comment from Damon Hopkins, Head of DC Workplace Savings at Broadstone.
He said: “The launch of the long-awaited review on pension adequacy will mark a critical inflection point in the nation’s retirement finances. Hiking contributions is undoubtedly the fastest way to tangibly increasing savers’ pension pots so they can enjoy a good standard of living in retirement and is likely to feature prominently in review.
“We face a huge retirement adequacy problem with profound social impacts following the OBR’s recent warning that low pension savings could lead to a greater reliance on the Government to support pensioners via a benefits system which is already unaffordable. Understanding the role of the State Pension and closing the pensions gender gap should also be an important focus of the review.
“While reforms should ultimately bolster the long-term financial security of workers, the Government will need to be wary of the financial burden on employers. Given the recent increases in National Insurance contributions and National Minimum and Living Wage rates, employers will need to start considering how they manage potential increased pension cost across the medium-long term.”
Scheduled Government Statistical Releases
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