Pension Reform Push for Fairer Retirements | Business and Finance News

UK pension bosses are urging the government to raise workplace pension contributions to 12%—with employers and employees both paying more—to ensure millions won’t face financial ruin in retirement. Currently, only 5% of salary goes toward pensions, but nearly half of workers aged 25-55 won’t have enough saved. Experts say starting early and boosting contributions could dramatically improve retirement security, especially for future generations. However, critics warn it could hurt lower-paid workers if companies cut jobs to offset costs. The industry wants changes in place by 2030, while the Treasury plans to tax state pension recipients less starting in 2027. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/c85fdb641d81213f