PENSIONS in their current form are "past their sell-by date" and could be made more flexible by allowing employers to help in other ways, such as by paying off student loans, the director-general of Saga has said.
An overhaul of the pensions system is due to begin this autumn under Government plans to automatically place all workers into pension schemes.
But Dr Ros Altmann, head of the over-50s organisation, said many people will be put off the idea of having their cash locked in and that schemes should instead be used as "lifetime savings accounts", with people having access to their cash as their lives develop.
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