Simple default savings funds that do not commit savers to buying any particular retirement products are the best way to help confused and ill-informed savers cope with their new choices at retirement, according to speakers at the Pensions and Lifetime Savings Association’s conference in Edinburgh.

Darren Philp, head of policy at the People's Pension, which is one of the largest of the new "master trust" pension schemes with 1.5 million members, presented findings from a consumer study that his organisation undertook between June 2015 and February this year.