Today, people in the UK can expect to live for longer than ever before. Although this is something to celebrate, it also creates significant challenges. Not only is the number of people of working age supporting those in retirement (the dependency ratio) falling, but millions of people aren’t saving – or aren’t saving enough – for their retirement.

To make sure people have the opportunity to enjoy an adequate income in retirement, we need to create a healthy and sustainable retirement savings environment combining state and private pensions.

The Government has outlined its proposals for the long-term development of pensions. As well as making changes to state pensions, it wants to introduce personal accounts to encourage those who aren’t currently saving, or aren’t saving enough, to take personal responsibility for their own retirement income. Find out more about the proposals .

We are working with Government, regulators, trade associations and other bodies to make sure that these proposals are not only robust, but focused enough to deliver the developments the UK needs.