UK/US - The government must do much more to encourage people to save during their working lives, urged Invesco Pensions in its Green Paper submission.
Chief executive David Butcher – who backed the paper’s proposals – said the government needs to do more to boost people’s savings habits.
In particular, he said that the government must introduce a basic level of financial education into the secondary and tertiary education systems.
Butcher explained: “We believe the real nature of the pensions debate should not see pensions in isolation, but as part of a bigger picture.
“Pensions are just one product competing for attention in the savings and investment industry.”
Invesco welcomed the government’s suggestion that people receive tailored information and pension forecasts by internet or telephone. The firm said it is testing a system in the US and is keen to follow in the UK.
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