Adrian Boulding, director of policy at NOW: Pensions, comments on David Gauke’s announcement about increasing State Pension age

“The Government’s intention to increase State Pension age from 67 to 68 – seven years earlier than expected – will be a blow to those generations who had hoped to retire in 2037.”

“Our research* shows that over half (48%) of UK adults would like to retire at the age of 61, with one in two (50%) happy to save more into their workplace pension to do so.”

“For those that want to stop working sooner, a workplace pension can bridge the financial gap but, for most, auto enrolment minimum contributions won’t be sufficient.”

“With the state pension slipping further from reach, the 2017 auto enrolment review needs to give serious consideration to the adequacy of workplace pension contributions, to give people the best chance of financial security in older age.”

More information

Samantha Gould – NOW: Pensions
Instinctif Partners
Fenella CuthbertCicero/AMO
Tel: 0207 947 5327