Budget discussions around pensions underestimated the savings gap. "It’s a full-blown crisis which requires long-term policy making" says KPMG's Andy Masters.
Despite the wealth of analysis on pensions and savings in the run-up to the Budget, discussions sidestepped the basic problem: people aren’t saving enough and no policy currently being discussed is likely to address this crisis:
Andy Masters, KPMG’s Head of Savings and Wealth discusses how “flexibility” and “freedom” are leading us to lose sight of the purpose of pensions and the cultural shift which must partly be driven by Government, with clearer pensions and tax incentives, to get society back on track.
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