Recommendation 22

We heard that there is a consensus that auto-enrolment has been successful in increasing participation in workplace pension saving but also that it is time to address the challenges which mean many people are unaware they are not saving enough for Protecting pension savers – five years on from the pension freedomss Saving for later life 59 an adequate income in retirement. There is a need to forge a consensus on the future direction, including employers, trade unions, the pensions industry and the wider public. This will require a cross-government commitment to develop a plan and build this consensus. In some areas—such as how to increase self-employed pension saving, ensure any future increase in contributions is well-targeted, and increase pension sharing on divorce—a better evidence base is needed to understand the issues. We recommend that the Government set up a new office tasked with: building and maintaining an evidence base; explaining the trade-offs involved in different policies; reporting regularly to Parliament on progress in meeting objectives relating to retirement adequacy and the gender pension gap. (Paragraph 141) 60 Protecting pension savers – five years on from the pension freedomss Saving for later life