Employers across the UK are trying to distance themselves from pension scheme liabilities and put the onus onto individuals, one expert has suggested.
Phil Perry, director of Ark Financial Planning, told Thomson Online Benefits that many of the issues currently surrounding pensions can be traced back to a lack of commitment, understanding or review.
He said that if people were constantly involved in their pension schemes it could make the overall system much more successful.
"It should be reviewed annually," he said.
"Contributions should be reviewed in relation to earnings, the risk that you want to take should be reviewed, and there are a number of things that should be taken into consideration."
Mr Perry’s comments follow the recent publication of an Association of Consulting Actuaries survey, which revealed that 90 per cent of defined benefit pension schemes had closed to new members.
Fears over the future of pensions could see many people adopt additional ways of funding their retirement such as equity release.
Such programmes allow homeowners to draw funds from the value of their property to boost their pension income.
