Fair Investment Company calls for further pensions calculator changes

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Fair Investment Company calls for further pensions calculator changes

Wed 15th Dec 2010

The Fair Investment Company has suggested the government has not gone far enough in its reform of the pensions system.

George Ladds, head of pensions at the firm, hailed the new flexibility brought into the system by the end of compulsory annuitisation, but claimed this does not tackle the "nitty gritty" of the problem in the UK.

In his view, the real issue is that people are not saving enough for their future.

He suggested tying in pensions with Isas, as he believes this will urge young people to sit up and take notice of their responsibility to put money aside.

"What I would like to see are some radical reforms to the pension system that will help encourage people to save for their retirement," said Mr Ladds.

In contrast, head of retirement strategy at Origen Rob Tinsley described the new legislation as "very positive" and remarked that the changes will modernise the system.

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