英专家称退休金制度已不适合21世纪_BEC初级作文

英专家称退休金制度已不适合21世纪

The report said: "The risk of buying at the wrong time, choosing the wrong annuity or failing to find the right rate could increase the number of poorer pensioners by many millions."

Altmann, a former director-general of over-50s group Saga, recently said pensioners could be taking on "the biggest gamble" of their lives when they buy an annuity, and many may never live to see any return on their money.

Her report, sponsored by retirement products provider MetLife, surveyed more than 3,000 people. It argued that auto-enrolment will increase "coverage but not adequacy of pensions".

Altmann said the problem with the Government's pension reforms is that they require people "to be able to cope with risks that they do not really understand".

Consumer research carried out for MetLife found that three-fifths (60%) of people do not understand or are unsure if they are fully aware of the risks of investing in a DC scheme. This figure rose to three-quarters (75%) of people aged between 18 and 24 years old.

Nearly three-quarters (72%) of people said they would be more likely to save into a pension if it guaranteed a level of retirement income.

Altmann said that to shore up more savings, people should think about working for longer and easing into retirement in phases, perhaps by initially going part time.

"A record 1 million people are now still working beyond age 65," she said. "The old notions of 'early retirement' are being consigned to history, but far too few workers are planning ahead for longer working lives.