Government still persists in encouraging people to save for their retirement through pension schemes. It is still pressing ahead with auto-enrolment for employees, albeit the timetable may be slipping.  But with gilt yields through the floor and life expectancy continuing to improve, does the logic stack up?

Annuity rates fell over 9% between June '09 and December '12.  Getting 4% on a Single Life policy is an achievement, getting it on ...