'Auto-enrolment will no doubt go someway to help solve the pension crisis but we need to move away from just relying on pensions to encourage planning for retirement. By including ISAs as part of workplace saving and by making pension funds partially accessible we could help generate a more active savings culture that will better help people prepare for their retirement and later life care needs. In uncertain financial times it is not surprising that people are unhappy to put their money in a 'locked box'.
'We also need to move away from the traditional model of retirement where people work until age 60 or 65 and are at this point expected to have saved all they will need for retirement. Most people at 65 will still be active and healthy with many years ahead of them to enjoy. By working, either full or part time, during some of these bonus years people can continue to save for their later life needs while also adding their valuable skills to the workforce.'