§ 19. Mr. RuffleyTo ask the Secretary of State for Work and Pensions what recent representations he has received on changes to the savings ratio. [160855]
§ Malcolm WicksGovernment continues to work with all its partners to build confidence in pension saving and make available the information that can empower individuals to take control of their retirement planning. The savings ratio is one part of the evidence base available.
However, it is a measure of current household saving (including pensioners), not a measure of saving for retirement. As such it is not an accurate predictor of long term pension savings.