Pensions 'under mounting strain'

Pension schemes are coming under increasing pressure and immediate action needs to be taken, it has been claimed.

Mark Brooks, spokesperson for the National Association of Pension Funds (NAPF), noted that his organisation wants to see a Budget that will provide for retirement.

With cost emanating from the recession being coupled with companies offering complex schemes, the government must put forward proposals that will help, he added.

Mr Brooks wants to see the "unworkable" tax plan that those in power are continuing with abandoned, with reassurances put in place that there will be support in the long-term.

It was recently suggested that people had been misled in the sector, as confidence was at an all-time low.

Dr Ros Altman stated that the blame for the current situation could be laid at the feet of the regulator, as there is not enough suitable advice to deal with all the complications that can arrive.