Pension savers will now be putting away more in their pots as part of an increase in auto-enrolment minimum contributions from 5% of qualifying earnings to 8%.
Savers could be short-changed by as much as £40,000 unless changes are made to the way auto-enrolment minimum contributions are calculated.
TISA, the financial services' provider association, is to help speed up the implementation of the 'pensions dashboard' set out in the Financial Advice Market Review final report and last weeks' Budget.
TISA, the tax-incentivised savings association, is warning that moves towards a pension Isa would be counter-productive.
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