Pensions calculator reform urgently needed, claims Saga chief

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Pensions calculator reform urgently needed, claims Saga chief

It is vital the government pushes through certain reforms to the pensions system, according to a representative from Saga.

Dr Ros Altmann, director general of the company, indicated she is fully behind proposals by pensions minister Steve Webb to introduce a flat-rate payment for retirees.

But she highlighted how it is not clear if the state review of the framework is going to take place immediately, despite the country "urgently" needing the changes.

"We must make it safe for people to save in a private pension by paying a proper state pension without means testing," said the Saga spokesperson.

Dr Altmann suggested it will be very difficult to revitalise the retirement savings industry without making such reforms and called on the government to act.

This week, Saga launched a scheme entitled Good Neighbour Roll of Honour, which aims to bring communities closer together and encourage individuals to help each other out during the extreme weather conditions.

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