The head of Saga says that radical reform of the UK's pension system is "vital" for the country's ageing population.

According to Dr Ros Altmann, director-general of the over-50s specialist, the government has committed to improving the state of pensions for people, even though it will take some time for the changes to come into effect.

She said that the new state pension system will not come fully into effect until 2016, so the industry and government have time to make sure it is introduced properly and the changes are not rushed.

Dr Altmann said: " The new pension system will hopefully be far better for women and self-employed, fairer and simpler than the current arrangements and should ensure much-reduced means testing. 

"It is a long overdue and much-needed change."

Although the government has delayed publication of its plans for reform to the autumn, it will involve the introduction of a single-tier state pension for people retiring in the future.