Monday 25 January 2021

A Living Pension

What would it take to secure a better retirement income for workers?

UK pensions have seen radical reforms in recent years to boost pension saving and tackle poverty in retirement. Government has introduced a flat-rate state pension and got more millions more workers saving through auto enrolment. But these policies alone can’t guarantee an adequate income for many pensioners. Could the creation of a ‘Living Pension’ – modelled on the successful Living Wage campaign – be the crucial next step in the pensions puzzle, providing earners with clarity about the contributions required for a comfortable retirement?

What would be the level of a Living Pension? How much do workers need to save to have that level of retirement income? How do you cater for unprecedented shocks like Brexit and Covid? And what can policymakers do to create a better pensions system for all?

To mark the launch of a new report on a Living Pension, supported by Aviva, the Resolution Foundation is hosting an interactive webinar to debate and answer these questions. Following a presentation of the report’s key points, we will hear from Pensions Minister Guy Opperman, and leading personal finance journalist Josephine Cumbo, on how both Government and employers can encourage better pensions saving. Viewers will be able to submit questions to the panel before and during the event.