Commenting on the Office for Budget’s Responsibility’s assessment of the nation’s long-term public finances, Darren Philp, Director of Policy at the National Association of Pension Funds (NAPF), said:
“The challenge of paying for Britain’s ageing population is increasing.
“As people live longer, the state pension age will have to rise to help keep the country’s finances under control. But increases need to be fair and done in a way that gives people plenty of time to plan.
“To enjoy a decent retirement, people also need to take more responsibility for their old age by starting to save adequately for their retirement from as early as possible."
Notes to Editors:
1. The NAPF is the leading voice of workplace pensions in the UK. We speak for 1,200 pension schemes with some 15 million members and assets of around £800 billion. NAPF members also include over 400 businesses providing essential services to the pensions sector.
Paul Platt, Head of Media, NAPF, 020 7601 1717 or 07917 506 683, [email protected]
Christian Zarro, Press Officer, NAPF, 020 7601 1718 or 07825 171 446, [email protected]