think any need of that kind would be met in a much more simple and straightforward fashion by allowing early access to pension funds in the case of people who are laid off in their 50s, etc. Having two separate savings vehicle would make people choose, at the time they were putting money in, whether they were saving for retirement or for unforeseen life events occurring pre-retirement, and it's in the nature of unforeseen life events that you can't know in advance whether, or how much, provision it is optimal to make for them. You'd be forcing people to commit to one or other in advance for no good reason.