Lobby groups with a vested interest in increasing regulation are having an unhealthy impact on government policy, according to PP research.

Respondents to PP research firmly rejected suggestions that people should stop thinking of pensions as providing an income for life.

The industry thinks pension managers should be able to give guidance to members, according to research carried out by PP.

Last year saw a big increase in the number of people attempting to find lost pension pots through the government's Pension Tracing Service, according to official statistics.

Legal & General (L&G) enjoyed a record quarter for bulk annuity business at the beginning of 2014, writing more than £3bn in new business according to the firm's quarterly results.

The combined deficit of schemes at FTSE 350 firms climbed to £111bn in April as falling bond yields and rising inflation expectations cancelled out stock market gains, says Mercer.

The government must do more to encourage employers and employees to increase contributions to pension schemes, says incoming Association of Consulting Actuaries chairman David Fairs.

The industry wants auto-enrolment minimum contributions to rise and sees auto-escalation as a good way of achieving this

Plans to increase the state pension age (SPA) to 70 for men and women by the 2060s are endorsed by the industry, although many think the government must act faster.

The pension industry is keen to see auto-escalation arrangements put in place to help workers save more, PP research finds.