For a happy retirement, savers need a £220,000 pension pot. That means urgent action is needed now to get people to save more, earlier, says António Simões

Whether it’s families around the dinner table or government around the cabinet table, pensions deserve to be a part of a national conversation. The government has rightly put them firmly back on the agenda with last week’s publication of the Pensions Schemes Bill. However, there is more to do.

Despite millions of people being brought into the pension system through automatic enrolment since 2012, the simple truth is that many UK savers are still not putting enough aside to guarantee a comfortable retirement.

This isn’t just about individual outcomes – better-funded pensions mean more capital for long-term investment in the economy.

The Local Government Pension Scheme alone is projected to reach £1 trillion by 2040, offering the potential to power national growth, creating a virtuous cycle of stronger pensions and economic prosperity.

I have long believed that UK pension savers should........

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