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Altmann calls for pensions reform

Speaking at the Facing Retirement Forum in London today pensions and investment expert Dr Ros Altmann has called for radical rethinking when it comes to pensions.

People have greater responsibility for pensions but they don’t understand the basics, said Altmann.

She said: “We need to sex up the idea that savings house has a role to play.”

The official review is that pensions are not in crisis now but maybe in the future. However, Altmann said: “This means that the sense of urgency to pensions has never really come through. This is not right there is a pensions crisis now and pensioners will be at crisis soon.”

Altmann now thinks pensions should be renamed. She said: “Money from the state should be kept as pensions but money that people save should be classed as long-term funding.”

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