We Need a National Narrative: Building a Consensus Around Retirement Income

Abstract

The primary purpose of a pension scheme is to provide life-long retirement income security for however long the scheme member lives. This Report will examine retirement income in private-sector pension schemes, principally workplace schemes set up by employers for their employees. The Government’s ‘freedom and choice’ agenda introduced in the Budget on 19 March 2014 is intended to apply to both DC and funded DB schemes, but not to unfunded DB schemes which most public-sector workers have.