However, Greer cautioned that the timing of the changes “will be key” given the “enormous pressure” on savers' finances at the moment.
Hargreaves Lansdown head of retirement analysis, Helen Morrissey said the bill has the potential to “significantly” boost people’s retirement savings.
She explained that this would be because it would get them into the pension habit as “early as possible and would enable groups otherwise excluded from the process to “get involved and benefit from employer contributions to their pensions".
However, she also acknowledged that there have been “concerns” around the timetable for the changes with the initial timetable of mid-202s looking “increasingly remote”.
Morrissey stated that this was “understandable” due to the cost-of-living crisis but with signs that inflation is starting to ease “the time has come to get a timetable in place”.
tom.dunstan@ft.com
What's your view?
Have your say in the comments section below or email us: ftadviser.newsdesk@ft.com
