The problems facing the UK saver are widely known. When it comes to pensions, the system is polarised between defined benefit (DB) arrangements that are increasingly seen as unaffordable and unsustainable and a defined contribution (DC) system which is unlikely to provide an adequate income for many.
This polarisation, which seems to be pitting old against young and public sector against private sector more and more, is why pensions minister Steve Webb's defined ambition (DA) project is growing...
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