NAPF comments on OECD pension findings

21 March 2011

Joanne Segars, Chief Executive of the National Association of Pension Funds, said: “Unless people want to rely on one of the worst state pensions in Europe, they are going to have to save more if they want to enjoy a comfortable older age.”

Joanne Segars, Chief Executive of the National Association of Pension Funds, also said: “With lifespans getting longer it’s inevitable that we’ll spend more time at work. The balance between work and retirement has to shift to reflect that. But we are concerned that Government plans to raise the state pension age to 66 will move too quickly to give many women in their late 50s the chance to adapt. Our society is not saving anywhere near enough for its retirement and is storing up some serious problems. The trade-off for working longer must be a better state pension. It needs to become more generous and a lot simpler. The Government must prioritise its reform.”

Press release 

© National Association of Pension Funds