'Pensions are finished': Michael Johnson calls time on traditional retirement product

Jenna Towler
clock

The Budget reform package coupled with generation Y's complete disengagement from traditional retirement saving has effectively killed pensions in their current form, according to Michael Johnson.

The Centre for Policy Studies fellow said "pensions are finished" and reiterated his call for a lifetime ISA product to be introduced in the UK. He also said the current "regressive" tax relief ...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Law and Regulation

Is the 'institutional spring' under threat from Gen Z disconnect?

Is the 'institutional spring' under threat from Gen Z disconnect?

Archie Pritchett says unless reform reaches savers, 2026's progress will bloom where nobody is looking

Archie Pritchett
clock 10 April 2026 • 4 min read
Is 3i v Decesare a further move away from Courage?

Is 3i v Decesare a further move away from Courage?

Kate Payne and Archana Gupta say a more robust approach may now be more defensible

Kate Payne and Archana Gupta
clock 09 April 2026 • 5 min read
PMI: Why a new pension system needs a new regulatory approach

PMI: Why a new pension system needs a new regulatory approach

Helen Forrest Hall says the future lies in regulating people rather than process

Helen Forrest Hall
clock 31 March 2026 • 4 min read
Trustpilot