'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

SPP: Small pots policy settled as details debated

SPP: Small pots policy settled as details debated

Helen Rowan looks at how legislation to enact small pot consolidation is progressing

Helen Rowan
clock 20 February 2026 • 3 min read
Pension transfer reform risks falling short without alignment

Pension transfer reform risks falling short without alignment

Patrick Heath-Lay says outcomes for savers could improve if regulators act together

Patrick Heath-Lay
clock 13 February 2026 • 4 min read
Why we need system-wide reforms to modernise how pension transfers work

Why we need system-wide reforms to modernise how pension transfers work

Lisa Picardo calls for reforms including a 10-day ‘Pension Switch Guarantee’

Lisa Picardo
clock 12 February 2026 • 5 min read
Trustpilot