UK to Revive Pensions Commission to Tackle a Savings Crisis (1)

The UK plans to revive the Pensions Commission — a creation of the last Labour government — amid growing concern that too few Britons are saving enough for retirement.

The decision announced by the Department for Work and Pensions on Monday comes almost 20 years after the original panel of experts — set up by then-Prime Minister Tony Blair to investigate the private savings regime in Britain — issued its final statement.

Now Keir Starmer’s Labour administration is warning that people retiring in 2050 are on track to get 8% less in private pension annually, or £800 ($1,074), than ...