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PensionBee Urges Action as Government Revives Pensions Commission to Tackle Looming Retirement Crisis
The PensionBee Pensions Commission call is a timely reminder of looming retirement inequality. PensionBee welcomed the revived Commission, saying that the UK needs to make changes to its pension system right away so that millions of people—especially carers, women, and the self-employed—don’t have to worry about money in retirement.
PensionBee, welcomed the move as a long-overdue wake-up call, warning that without bold reform, millions – including carers, the self-employed, women and low-paid workers – risk sleepwalking into retirement poverty.
Lisa Picardo, Chief Business Officer UK at PensionBee said: “This Pensions Commission shines a welcome light on the very real risk that millions face a poorer retirement unless urgent action is taken. The challenges highlighted – from the gender pensions gap to the chronic under-saving of the self-employed, lower-paid and certain ethnic groups – are not new, but they are growing. These are issues we’ve been drawing attention to for some time, and the data shows the consequences of continued inaction.
“We’ve long championed practical reforms to make saving easier, more inclusive and fairer for everyone. We hope this renewed focus will deliver meaningful progress – especially for groups who have been historically underserved by the pensions system – including those invisible workers such as carers and the self-employed – and help build a future where all savers can look forward to financial security in retirement.”
With the PensionBee Pensions Commission highlighting systemic issues, the company hopes this means that retirement planning will become more fair and open to everyone.
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