Government plans to increase spending on state pensions have been criticised as "unaffordable and irresponsible" in a report by a free market think tank. The Institute for Economic Affairs (IEA) says the government should speed up the introduction of a later retirement age. It also suggests a compulsory private pension scheme to replace the state pension. In response, the government said it had already brought in automatic enrolment. "While not compulsory, as people are free to opt out if they wish, it will mean millions more people will be saving for their retirement," a Department for Work and Pensions (DWP) spokesman told the BBC. The DWP added that it was already reforming state pension age to ensure it reflected changes to life expectancy, and was also introducing "a simpler, flat rate state pension".......Read more here