Analysis

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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.

The industry believes the the minimum auto-enrolment contribution for workers should be set above 6%, according to research carried out by PP.

The pensions industry wants to see a rapid escalation of the minimum employer contribution rate for auto-enrolment, PP research finds.

How and why the tax treatment of pensions has to change

Two thirds of the pension industry think the government should consider compulsory saving to make sure as many workers as possible had something to supplement their state pension.

Seven out of ten people in the industry do not believe the combination of statutory auto-enrolment and new flat-rate state pension will give workers enough to retire on.