Well in the land of the dollar where managing your own pension money is the norm, the findings suggest otherwise - the last figures I saw, a few years ago, suggested that the average American couple had a net worth of about 20K when hitting retirement age...
Give people access to their pension capital and they will spend it. The will always find a good reason for spending money!
There is no doubt that pension reform is badly needed, but this is not it. This is an nice bit of electioneering on Cameron's part - his friends and backers in the City get access to a new fee source and the great unwashed get to feel that they are now better of 'cause they are all going to get a much better return on their money, ya right!