Joanne Segars, chief executive of the National Association of Pension Funds, said: "A new system will take millions out of means-tested benefits, and will encourage people to take control of their old age by saving towards it".
Joanne Segars, NAPF Chief Executive, said: “We are delighted by this confirmation of the Government’s commitment to a long-awaited, landmark reform. This is another big step towards a simpler, more generous state pension that no longer penalises people for saving.”
“The NAPF has been calling for a single-tier state pension for many years. This is the much-needed foundation on which people can build their own savings, knowing that it pays to save. And it will help ensure that auto-enrolment is a success. We are all living longer, so it is inevitable that retirement ages move upwards to reflect that. The trade-off for working longer must be a better state pension come retirement.”
Press release
© NAPF - National Association of Pension Funds
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