Getting people to save for retirement is one achievement. Ensuring they can afford to retire is an entirely different challenge.
I am delighted to share that my latest written evidence has been officially published by the UK Parliament’s Work and Pensions Committee, as part of its inquiry into pension adequacy and automatic enrollment.
The UK has made remarkable progress in workplace pension participation. Yet approximately 15 million working-age people are estimated to be undersaving for retirement.
This raises an important question: Are we building a pension system that encourages saving, or one that genuinely delivers financial security?
In my submission, I examine the economic and policy implications of increasing pension contributions, particularly for lower-income workers and their employers.
My central argument is that pension reform must balance three priorities:
🔹 Adequacy: Will people accumulate enough savings to maintain their living standards in retirement?
🔹 Affordability: Can lower-income households contribute more without compromising their immediate financial needs?
🔹 Fairness in cost-sharing: Who ultimately bears the cost of higher contributions: employees, employers, or both?
Increasing pension contributions may improve retirement outcomes, but good intentions alone do not guarantee good policy. The distributional consequences, employer responses, and implementation timetable matter just as much.
I am particularly pleased to see my academic contribution acknowledged through its publication in the UK Parliament's official evidence record.
For me, one of the most meaningful aspects of academic research is the opportunity to contribute beyond universities, bringing independent financial and economic analysis into public policy discussions that affect millions of households.
I am grateful to the Work and Pensions Committee for the opportunity to contribute to this important inquiry.
📖 Read my published evidence in Parliament:
#UKParliament #PublicPolicy #PensionReform #FinancialSecurity #RetirementPlanning #CorporateFinance #ResearchImpact
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