Commenting on IFS research suggesting people should be encouraged to increase pension contributions at key life stages Jamie Jenkins, director of policy and external affairs at Royal London, said:
“Such proposals have merit and resonate with the success we’ve seen where ‘save more tomorrow’ schemes are deployed in workplace pensions. The first priority must be to implement the proposals from the 2017 review as soon as we are comfortable that employers and employees have recovered their finances from the pandemic.”
About Royal London
Royal London is the largest mutual life insurance, pensions and investment company in the UK, with assets under management of £148 billion, 8.8 million policies in force and 4,412 employees. Figures quoted are as at 31 December 2020.