91探花

Commenting on the recent DWP review () Ian Bell, head of pensions at 91探花 said: “This DWP review is long overdue, and highlights what we already know, which is that poor financial literacy regarding pensions is a barrier to better saving and planning for retirement. The forthcoming pensions dashboard release in 2026 should help raise awareness of, and engagement in pensions and retirement planning but without improved financial literacy, the benefits may be lost. 

“In addition to a more collaborative approach between individuals, employers and the industry, we’d urge the DWP to also call for cross-party agreement and improved collaboration within government departments, including the Treasury, to give some long-term certainty on the tax treatment of pensions. Successive governments have made changes with short-term gains in mind, which can often make long-term financial planning difficult for savers, who keep seeing their retirement savings goal posts moved. Improving financial literacy and increasing awareness of the need to save from a young age to ensure a comfortable retirement is of course welcome, but individuals also need confidence and certainty on how they will be able to withdraw their savings later. 

“The review also needs to have a greater focus on the rapidly growing self-employed population, who currently don’t benefit from auto enrolment, and often don’t make adequate provision for retirement.”