UK - Lord Hutton admitted the Labour administration's pension reform package did not go far enough and may have "made matters worse".
He told delegates although the last government's reform plan made a start on overhauling pensions it "did not go far enough" and may have hindered progress.
He said: "I have to give full marks to ministers for the response I am seeing to these reforms. We tried but did not go far enough. In fact we made matters worse.
"I say that with a great deal of regret. That is why I decided to take on the commission."
Responding to a question from Mirror Group trustee Alan Burns, he said he was unsure if the collation had time, or willingness, to implement all of his recommendations before the next election.
"I do not know, I hope so," He added.
PwC chief actuary Raj Mody asked Hutton whether he could comment on rumours the government was considering delaying auto-enrolment.
Hutton said while he could not comment specifically, the halls of Westminster were always alive with rumours. He added any delay to auto-enrolment would be a disaster and urged the government to press ahead with the reforms, on schedule.
The Labour peer also said the defined benefit versus defined contribution debate had an element of "Punch and Judy" and people should take a step back. He added DB had been stereotyped as inferior to DC.
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.