WIREDGOV

Government measures to reduce the liability of the state for supporting people in their retirement are being managed separately, without adequate consideration of their combined impact on the overall objective of increasing retirement incomes. According to a report today by the National Audit Office, there is no overarching programme or single accountability for encouraging people to save for retirement.

The Treasury leads on overall savings strategy, and DWP on workplace saving but, without a whole system view, the NAO believes there is a risk that individual, but co-dependent interventions may not be effective in increasing saving for retirement.

Full report: Government Interventions to Support Future Retirement Incomes