Auto-enrolment Archives - People's Partnership

What next for automatic enrolment in workplace pensions?

As the second Pensions Commission builds towards its landmark Final Report next spring, this crucial new research provides a detailed assessment of how the recently proposed reforms to the triple lock will affect a saver’s ability to reach pension adequacy benchmarks.

The independent study, authored by leading economist Carl Emmerson, partner at London Economics, argues that the State Pension and workplace saving need to be considered together when assessing future retirement adequacy, because decisions about the future level and uprating of the State Pension will affect how much people need to save privately. It also argues that the Pensions Commission should use its platform to highlight wide-ranging structural barriers to retirement adequacy that emerge from outside the pension system, including to labour and housing markets.

Whilst automatic enrolment stands as one of the UK’s most successful policy reforms, the research highlights that millions of savers may still be on track for inadequate retirement incomes. It finds that changes to the State Pension uprating regime could mean that many savers need to contribute more to their workplace pensions to achieve adequate retirement outcomes.

The report finds that middle earners face the greatest risk of under-saving. At the same time, policymakers must be mindful of the pressures that higher pension contributions could place on lower earners. To address this challenge, the report calls for higher default automatic enrolment contributions, an increase in the upper earnings threshold to around £65,000, and targeted protections for lower earners.

Download the full ‘What next for automatic enrolment in workplace pensions?’ research report

Download 'What next for automatic enrolment in workplace pensions?'

Government’s triple lock shake-up strengthens calls for vital automatic enrolment reforms proposed by leading economist

Independent report commissioned on behalf of People’s Pension shows how the proposed reform of the State Pension triple lock changes the context for the final report of the second Pensions Commission.
Triple lock reform will stabilise the level of the state pension at around 30% of median earnings, halting its growth in value. Private saving will need to rise to enable savers to hit the same level of overall retirement income.
Middle earners are most at risk of under-saving, while lower earners face more immediate financial pressures.
Reform of the triple lock reduces but does not eliminate the risk of some lower earners saving too much should minimum automatic enrolment contributions rise significantly.
The report proposes higher default pension contributions, alongside measures to support lower earners and an increase in the upper earnings threshold for automatic enrolment to around £65,000.

A new independent report commissioned on behalf of People’s Pension shows how the proposed reform of the triple lock changes the context for the forthcoming final report of the second Pensions Commission and strengthens the case for higher minimum pension contributions. Under the changes due to come into effect from 2030, the State Pension would broadly track average earnings over time.

The study, authored by leading economist Carl Emmerson, partner at London Economics, argues that the State Pension and workplace saving need to be considered together when assessing future retirement adequacy, because decisions about the future level and uprating of the State Pension will affect how much people need to save privately.

While triple lock reform would place future public finances on a more stable footing, the recently announced proposed change would make it harder for people to hit common pension adequacy benchmarks over the long term, as the State Pension will replace a lower proportion of pre-retirement earnings

For a £40,000 earner retiring at 63 and saving at the legal minimum level, Emmerson’s modelling suggests retirement income would replace around 62% of their previous take-home pay if the State Pension triple lock is maintained, falling to around 55% under a reformed triple lock, which would see the State Pension rise in line with earnings over time. Both are below a target of around 74% of take-home pay for such a median earner, sufficient to maintain living standards in retirement.

Automatic enrolment has been one of the UK’s public policy successes, but the report finds that middle earners are now the group where evidence of under-saving is strongest. Official estimates suggest around 40-50% of people in middle-earning groups are not on track to meet their target replacement rates under triple lock uprating and this figure will be higher under the reformed triple lock.

The findings reinforce the need for the second Pensions Commission to set out a target measure of retirement adequacy and propose the level of automatic enrolment contributions and threshold changes needed to achieve it.

However, policymakers need to think carefully about how to minimise negative impacts of higher universal contributions on lower earners, not all of whom can afford to save more. Under the reformed triple lock, the number at risk of saving more than they need for retirement would be smaller, but the risk would remain. The trade-off involved in raising pension contributions across a large and diverse population and how to mitigate the risk of people being nudged to save more than they can afford must be considered.

The report recommends:

Increasing default minimum automatic enrolment pension contributions.
Retaining a lower qualifying earnings threshold to protect lower earners from higher default contributions.
Provide employees with the option to opt down to the current minimum contribution rates.
Increasing the upper earnings threshold for automatic enrolment – the salary cap for minimum contributions – to around £65,000 and indexing it to earnings.
Modernising National Insurance credits to support part-time and part-year workers better, alongside considering mandating employer pension contributions from the first pound earned, including for employees who opt out of contributing themselves.

Carl Emmerson, Partner at London Economics and former Deputy Director of the Institute for Fiscal Studies, said:

“Automatic enrolment transformed workplace pension saving and remains one of the UK’s most successful public policy reforms of the last twenty years. A challenge now is ensuring those employees brought into a workplace pension are contributing enough for their retirement.

“We cannot answer that challenge by looking at workplace saving alone. The State Pension provides the foundation for retirement income, and its future level and uprating will directly affect how much people need to save privately.

“Our new research shows that different groups face very different retirement challenges. Middle earners are where the evidence of under-saving is strongest, while policymakers need to be cautious about measures that could put further pressure on lower-income households today.”

Patrick Heath-Lay, Chief Executive Officer for People’s Pension, said:

“The report makes a clear case for evolving the UK pensions system into a better integrated system where the state and workplace pensions combine to replace a target level of income in retirement. But if the state pension is to be held steady at 30% of median earnings then the case for increased private saving is strengthened.

“Policymakers should be cautious. There is a trade-off between the simplicity that has brought more than 11 million people into retirement saving via automatic enrolment and the need to protect lower earners from the impacts of higher contributions. Careful thought needs to be given to how to reduce risks for the lowest earners if a flat increase in contributions emerges as the Commission’s best option.”

Beyond automatic enrolment, the report argues that some of the biggest threats to future retirement adequacy sit outside the pensions system itself, including weak wage growth, rising housing costs, early labour-market exit and persistent labour-market inequalities. It concludes that lasting improvements in retirement outcomes will also depend on wider reforms to housing, labour markets and the economy.

Notes to Editors:

The report, What next for automatic enrolment in workplace pensions?, was independently authored by Carl Emmerson, Partner at London Economics and former Deputy Director of the Institute for Fiscal Studies, and his colleague Max Molaro. Carl Emmerson – London Economics. The report was commissioned by People’s Partnership as an independent contribution to the debate on retirement adequacy and the work of the second Pensions Commission.
People’s Partnership is a business without shareholders, it reinvests its profits with the aim to help customers and achieve better financial outcomes for everyone. It provides People’s Pension, the largest commercial master trust in the UK based on members, serving seven million pension savers across the UK and managing £45bn in assets. This assessment is determined by membership size.
The second Pensions Commission published its interim report, Pensions 2050: Evidence and Future Priorities, in May 2026. The report examines the challenges facing future pensioners and the evidence on retirement adequacy, ahead of the Commission’s final recommendations in 2027.
Middle earners are defined as those earning between the equivalent of a full-time employee on the National Living Wage (just under £25,000 a year for a 37½ hour-week), and the upper threshold of policy concern, around £65,000 a year.
The lower limit of qualifying earnings for auto-enrolment is £6,240 annual income for the 2026/27 tax year.
The upper limit of qualifying earnings for auto-enrolment is £50,270 annual income for the 2026/27 tax year.
A target replacement rate of 74% for a median earner is equivalent to the two-thirds gross replacement rate proposed by the first Pensions Commission, expressed in terms of take-home pay under today’s tax system.
The Office for Budget Responsibility projects that earnings uprating would bring State Pension spending to around 7% of GDP by 2075, from 5% now, versus 9% were the Triple Lock to be maintained.

A copy of the report is available here.

Two thirds of SMEs say they are unable to meet growing responsibility for employee retirement outcomes

More than half (51%) of UK SMEs believe retirement outcomes are primarily the responsibility of employers, but the vast majority (68%) believe they lack the expertise and resources to support their workers
Seven in ten (70%) SME employers say businesses are increasingly expected to help employees achieve better retirement outcomes
More than two-thirds (67%) believe employers are expected to support retirement confidence and decision-making, as well as broader financial wellbeing

SME employers feel increasingly responsible for helping employees achieve better retirement outcomes, but the majority say they don’t have the support available to help them meet those expectations, according to new research¹ from People’s Pension².

While more than half (51%) of SMEs now believe retirement outcomes are primarily the responsibility of employers, many feel those expectations are growing faster than the support available to them. More than two thirds (68%) believe they lack the expertise or resources to offer this wider financial wellbeing support.

Seven in ten (70%) employers say there is a growing expectation on businesses to help employees achieve better retirement outcomes, while 67% believe employers are increasingly expected to support retirement confidence and decision-making. A similar proportion (67%) say employers are also being drawn into broader financial wellbeing responsibilities beyond pensions.

The findings suggest employers increasingly see supporting employees’ long-term financial wellbeing as part of their role, while underlining the importance of providers and advisers helping them meet these wider expectations.

The research comes as the Pension Schemes Act 2026 introduces the next phase of workplace pension reform, including a new Value for Money framework and requirements for schemes to offer clear default retirement income options. As the industry places greater emphasis on the outcomes members achieve, effective collaboration between employers, providers and advisers will become increasingly important.

Stuart Reid, Distribution Director for People’s Pension, said:

“It’s encouraging that so many employers recognise the role they can play in helping their employees retire well and with confidence. But many also feel they’re being asked to do more without necessarily having the expertise or resources to do it, and that’s where providers need to step up – with better products, simpler member journeys, and support that looks beyond just the financial side of retirement.

“The numbers are obviously important, and good tools and guidance can make it much easier for people to understand what they can afford. But there’s much more to a good retirement than working out the maths. People need to think about what they’re actually going to do with their time, what will give them a sense of purpose, and what responsibilities they might still have to others. Employers can help people start thinking about those questions, but they can’t do it all – providers and other specialists have an important role to play too.”

Notes to Editors:

1. Data conducted on behalf of People’s Pension by Opinium Research from 1 July – 8 July 2026 among a nationally representative survey of 200 Independent Financial Advisers.

2. People’s Pension is the largest commercial master trust in the UK based on members, serving seven million pension savers across the UK and managing £45bn in assets. It is provided by People’s Partnership, a business without shareholders, it reinvests its profits with the aim to help customers and achieve better financial outcomes for everyone. This assessment is determined by membership size. People’s Pension currently has more than seven million members, which, according to publicly available industry data, exceeds the membership of any other commercial master trust.

Retirement support emerging as a key differentiator in workplace pensions, advisers say

Nearly two-thirds (64%) of advisers believe workplace pension providers still look too similar
Almost half (48%) say retirement support is becoming the key differentiator between providers
Almost six in 10 (58%) believe member outcomes and support now matter more than cost alone
More than a third (35%) expect retirement income solutions to become one of the biggest differentiators over the next five years
The findings suggest providers have an opportunity to stand out by supporting members throughout their savings journey and into retirement

Workplace pension providers can no longer rely on cost alone to stand out, as employers and advisers increasingly place greater value on retirement support when assessing providers, according to new research¹ from People’s Pension².

Nearly two thirds (64%) of independent financial advisers believe workplace pension providers still look too similar, suggesting there remains considerable scope for providers to differentiate themselves. Almost half (48%) believe retirement support is becoming the key differentiator between providers, while more than a third (35%) expect retirement income solutions to be among the biggest areas of differentiation over the next five years.

Cost remains an important consideration, with 59% agreeing it is still a defining factor when businesses engage with workplace pension providers. However, as the industry increasingly focuses on Value for Money, advisers appear to be taking a broader view of what constitutes value. Almost six in ten (58%) believe member outcomes and support matter just as much as cost, suggesting providers will increasingly be judged not just on charges but on the overall value they deliver throughout a member’s savings journey and into retirement.

Advisers also expect the retirement experience providers offer members to become an increasingly important differentiator. Alongside retirement income solutions (35%), almost a quarter identified digital engagement and AI-enabled support (24%), guided retirement pathways and guidance (23%) and greater personalisation (23%) as features that will increasingly set workplace pension providers apart.

The findings also highlight why advisers believe retirement support is becoming increasingly important. More than half (54%) say workplace pensions struggle to generate meaningful engagement because most employees disengage from their pension until later life, while 45% point to employees prioritising immediate financial needs over longer-term retirement planning.

When employees do begin thinking about retirement, advisers believe many would benefit from greater support. Nearly four in ten (39%) say most employees do not engage with retirement until it is very close, while almost a quarter (24%) believe employees underestimate how complex retirement decisions can be.

The findings suggest advisers increasingly expect workplace pension providers to demonstrate how they can support members throughout their savings journey and into retirement. As the market continues to evolve, retirement support is emerging as an increasingly important part of the overall workplace pension proposition.

Stuart Reid, Distribution Director for People’s Pension, said:

“Supporting people at retirement is a very different challenge to helping them save. Automatic enrolment has brought millions of people into pension saving through a relatively simple framework, while retirement is much more individual. Members arrive with different pot sizes, circumstances, priorities and expectations of what retirement will look like.

“That diversity is one of the reasons retirement has been a much tougher challenge for the industry to crack. There isn’t a single journey that will work for everyone, particularly for providers serving millions of members from across the UK.

“Scale also gives providers an opportunity. As more members reach retirement, we’re building a much richer understanding of the choices people make, where they need support and how those needs differ across our membership. That experience can help us develop retirement propositions that better reflect how people actually want to use their pension savings.

“That’s why retirement support is becoming such an important differentiator. The providers that stand out will be those that can use what they learn from their members to give people the right support, at the right time, whatever their circumstances.”

Notes to Editors:

1. Data conducted on behalf of People’s Pension by Opinium Research from 1 July – 8 July 2026 among a nationally representative survey of 200 Independent Financial Advisers.

2. People’s Pension is the largest commercial master trust in the UK based on members, serving seven million pension savers across the UK and managing more than £40bn in assets. It is provided by People’s Partnership, a business without shareholders, it reinvests its profits with the aim to help customers and achieve better financial outcomes for everyone. This assessment is determined by membership size. People’s Pension currently has more than seven million members, which, according to publicly available industry data, exceeds the membership of any other commercial master trust.

People’s Pension responds to Pensions Commission consultation

Patrick Heath-Lay, CBE, Chief Executive Officer for People’s Pension¹, said: “The Commission is right to recognise that the UK’s main pensions challenge is improving the adequacy and fairness of the pensions system in the context of an ageing society. This is fundamentally different to the challenge faced by the first Pensions Commission. The challenge now is to improve retirement outcomes while ensuring the long-term sustainability of the pensions system as demographic change places increasing pressure on public finances.

“Of these three priorities sustainability must be tackled first as it bridges pensions policy and public spending, creating the strongest foundation for reform. As the issue of pensions savings inadequacy gathers pace, the challenge will be to improve outcomes from the UK’s pensions system while managing the increasing fiscal pressures associated with both pensions and healthcare.

“Our view is that preserving a universal flat-rate State Pension that retains its value over the long term should remain a cornerstone of the UK’s pensions system, complemented by higher levels of private saving to better insulate future retirees from the fiscal pressures that are likely to emerge over the coming decades. Alongside this, the Commission has an opportunity to provide greater clarity on what pension adequacy looks like and to set a clear long-term direction for how it can be achieved. That should include strengthening automatic enrolment over time, bringing younger and self-employed workers into pensions saving earlier and ensuring savers are better supported to convert their pension pots into sustainable retirement income. We also believe that ordinary savers should benefit from the same protections and standards regardless of whether the pension scheme is workplace or retail.

“The second Pensions Commission has started an important conversation about how the UK responds to the issue of pensions savings inadequacy. We look forward to contributing to that debate as the Commission develops its final recommendations and helps shape a pensions system that delivers better, fairer and more sustainable outcomes for millions of hardworking people across the UK.”

Notes to editor:

People’s Pension is the largest commercial master trust in the UK based on members, serving more than seven million pension savers across the UK and managing £40bn in assets. It is provided by People’s Partnership, a business without shareholders, it reinvests its profits with the aim to help customers and achieve better financial outcomes for everyone.This assessment is determined by membership size. People’s Pension currently has more than seven million members, which, according to publicly available industry data, exceeds the membership of any other commercial master trust.

Personalised video statements drive strong member engagement for People’s Pension, with nine in ten members remaining fully engaged[1]

People’s Pension², the UK’s largest commercial master trust, has reached another milestone in its commitment to delivering more engaging, tailored experiences to its seven million members, through the development of its personalised video statements³.

The refreshed and rebranded video statements have now been rolled out to approximately 95% of active members⁴ and is already delivering high levels of interaction from its members, alongside consistently positive member feedback¹.

The video statements are designed to complement annual regulatory statements by presenting key pension information in a more accessible and engaging format. Each video combines personalised audio and on-screen text, using data such as a member’s name, pension value, investment profile and future projections. Key features include a refreshed visual design, clear projection of potential pot size and retirement income, and simple insights such as Savings Reward⁵information.

People’s Pension Chief Commercial Officer, David Meliveo, said:

“I’m incredibly excited to share the new-look personalised video statements, now fully aligned with our refreshed brand. With a fresh design and enhanced user experience, this marks a significant step forward in how we engage with members and reflects our ongoing focus on innovation, greater personalisation and ultimately, delivering better retirement outcomes.

“Evidence shows that regular, simple interactions help build members’ confidence in their finances, and feedback has been overwhelmingly positive. The initiative is already helping to deepen engagement, improve outcomes and strengthen our proposition for employers and advisers, with ongoing member insight continuing to shape and refine our approach.”

Nigel Rodgers, Chief Information Officer, for People’s Pension added:

“It’s an incredibly exciting time at People’s Pension, with huge potential for technology to transform how we communicate with our members – helping us deliver a more sophisticated, seamless and intuitive experience.

“Our personalised video statements have been designed and built with scalability, security and efficiency at their core, incorporating a range of innovative enhancements. Collectively, these innovations are redefining how members interact with and understand their retirement savings.”

People’s Pension plans to extend access further by launching personalised video statements within its member app⁶ later this summer, making it even easier for members to view and engage with their pension.

Notes to Editor:

1. People’s Pension has seen excellent levels of interaction from its members, including three times more email clicks, more than nine in ten members watching their video to completion, and two-thirds of members taking positive follow-up actions such as downloading the People’s Pension app or accessing further information. The initiative has also achieved an average rating of 4.8 out of 5.

2. People’s Pension is the largest commercial master trust in the UK based on members, serving more than seven million pension savers across the UK and managing £40bn in assets. It is provided by People’s Partnership, a business without shareholders, it reinvests its profits with the aim to help customers and achieve better financial outcomes for everyone.

This assessment is determined by membership size. People’s Pension currently has more than seven million members, which, according to publicly available industry data, exceeds the membership of any other commercial master trust.

3. Video explainer

4. Personalised video statements – available within the member portal – are available to approximately 95% of active People’s Pension members, except for members who have a pension pot under £50 or those who are already in retirement.

5. People’s Pension gives £100 million back to its members through its savings reward – People’s Partnership

6. App – People’s Pension

New annuity guidance service for People’s Pension members launched

The provider of the People’s Pension¹, the UK’s largest commercial master trust², has unveiled its new annuity guidance service, as part of its commitment to delivering better outcomes for its seven million members.

Working with market leading Retirement Line³, People’s Pension will now offer free-to-use⁴ enhanced support to members over 55 years old who want to consider the purchase of a guaranteed income for life through an annuity. This announcement is the latest development in the Scheme’s ongoing enhancements of the retirement options it is offering to its members.

A growing number of people are accumulating larger pension pots through automatic enrolment according to data from the Financial Conduct Authority⁵, and more are considering annuities as a way to secure a dependable income in later life.

Through its decade-long ‘New Choices, Big Decisions’ research⁶, People’s Pension has identified a need to better support members with the complex decisions involved in choosing their retirement options, including annuities.

By having access to Retirement Line’s services, People’s Pension members will benefit from a single, dedicated point of contact to help them navigate their retirement journey – from initial guidance through to finalising their annuity. This guidance service includes support to members in completing health questionnaires, helping ensure they are considered for the full range of enhanced or impaired rates offered by providers.

Members will be able to speak with specially trained staff by phone, who will support them in completing health questionnaires and help ensure they are considered for the full range of enhanced or impaired rates offered by providers. They will also have access to interactive online tools and tailored support for vulnerable customers.

Kirsty Ross, Proposition Director for People’s Partnership, provider of the People’s Pension, said:

“This announcement further demonstrates our commitment to supporting members as they approach retirement, by providing clarity at a time when their choices matter most. By offering our members access to Retirement Line, People’s Pension is ensuring they receive clear guidance and personalised support. This is about helping people make confident decisions in later life, with specialist expertise available at every stage of their retirement journey.”

David Meliveo, Chief Commercial Officer for People’s Pension, said:

“Employers want to know their workforce is supported, not just while they’re saving, but when they start making the big decisions that shape life after work. Helping people secure reliable income in retirement is a vital part of that duty of care.

“This new service gives employers confidence that their staff can access specialist, impartial guidance when it matters most. It’s a meaningful step toward improving long-term financial security and ensuring members feel fully supported as they plan for the years ahead.

“This is a great example of how a scheme our size and scale can pass on services to vast numbers of people without it costing them in the long term. While we have millions of members with all sorts of financial backgrounds and needs, this service will really help many of our members who cannot afford personal financial advice. This is a great example of what we stand for.”

Mark Ormston, Chief Compliance Officer at Retirement Line, added:

“We’re delighted to be working with People’s Pension. Especially during a period of competitive annuity rates and strong interest in turning pension savings into secure, guaranteed income. With healthy and growing competition across the annuity market, we look forward to supporting even more consumers in maximising their annuity income by comparing quotes from all the annuity providers on the open market.

“We offer both lifetime and fixed term annuity products on our whole of open market panel, with both products continuing to see increasing demand. In 2025, two thirds of our customers opted for a lifetime annuity, with 80% of these annuities being underwritten based on health and/or lifestyle factors. On average, these consumers received 12% higher annual income compared to the highest standard annuity offered on the open market.

“Whether savers are considering an annuity with all or part of their pension savings, I am confident that People’s Pension members will value the clarity, reassurance and support we provide as they look to make the most of their pension savings.”

Notes to Editor:

1. People’s Pension is the largest commercial master trust in the UK based on members, serving more than seven million pension savers across the UK and managing £40bn in assets. It is provided by People’s Partnership, a business without shareholders, it reinvests its profits with the aim to help customers and achieve better financial outcomes for everyone.

2. This assessment is determined by membership size. People’s Pension currently has more than seven million members, which, according to publicly available industry data, exceeds the membership of any other commercial master trust.

3. Retirement Line is the UK’s largest specialist pensions annuity broker offering guidance and support to help savers secure the best income available from the UK’s leading annuity providers. Based in Peterborough, the company is authorised and regulated by the Financial Conduct Authority.
Any questions or further information can be obtained via Mark Ormston, Retirement Line: Mobile: 07581 153270 / Email: mark.ormston@retirementline.co.uk.

4. Members are not charged directly for the service. Where an annuity is purchased, Retirement Line is remunerated through provider commission, a proportion of which is rebated to the member according to the value of the purchase. Larger purchases receive a higher rebate as a percentage. Any rebate is automatically added to the purchase amount, increasing the income secured for the member.

5. Retirement income market data 2023/24 | FCA

6. New Choices, Big Decisions : Insights from a decade of retirement journeys – People’s Partnership

People’s Partnership and Good Things Foundation launch two webinars to digitally empower members

People’s Partnership¹, provider of the People’s Pension, has launched two new free webinars with leading digital inclusion charity, Good Things Foundation², to help members feel more supported and empowered in the digital world.

Millions of people across the UK remain digitally excluded, including many in employment. Around 7.9 million adults³ lack basic digital skills, which can affect how they manage money, use essential services and engage with their workplace pension.

People’s Pension and Good Things Foundation are offering free, practical digital inclusion support that employers and members can use straight away. The short, on demand Build Your Digital Confidence⁴ webinars are designed to both help organisations understand digital exclusion and take simple, practical steps to support their workforce, as well as help members recognise the signs and challenges of digital exclusion and build confidence in signposting the right support.

The employer session covers:

How to spot and support employees who may be digitally excluded
Simple ways to help people feel safer and more confident online
Why digital skills matter for better engagement with workplace pensions

The member session helps members with:

Simple steps to feel safer online
How to spot digital exclusion
Ways to use digital tools with more confidence – including managing their pension digitally

Commenting on the new webinars, Nigel Rodgers, Chief Information Officer at People’s Partnership, said:

“As a pension with purpose, our commitment is to help our seven million members build strong financial foundations for life, with financial wellbeing at the heart of everything we do. A key part of this is digital inclusion, ensuring no one is left behind as more services move online.

“Digital exclusion can have a real financial impact. We believe everyone deserves access to the knowledge, skills and confidence needed to plan for their future. Yet millions of people across the UK continue to face barriers to basic digital access, whether due to a lack of suitable devices, affordable data, or the skills to use online services safely and effectively.

“That’s why digital inclusion matters so deeply to us. It’s not only about improving how people engage with their pension, but about promoting fairness, confidence and independence. Technology should empower people, not exclude them. Through these free webinars, as well as our ongoing work with the Good Things Foundation, we aim to equip employers and support members to help overcome digital barriers and build greater digital confidence.”

James Muscat-Sharp, Director of Partnerships at Good Things Foundation, said:

“Our work with People’s Partnership is focused on tackling the digital divide where it matters most: helping people gain the confidence and skills to manage their financial future. These webinars are a great example of providing practical, simple support to help members feel more empowered and included in the digital world.”

Last year, People’s Partnership announced its first major charity collaboration with Good Things Foundation, bringing financial expertise into the social sector to reach people often excluded from both digital access and financial planning. The initiative is designed to help more people confidently manage their financial future online and includes three modules that People’s Partnership have co-developed for Good Things Foundation’s free online learning platform, Learn My Way⁵.

Notes to Editor:

1. People’s Partnership is a business without shareholders; it reinvests its profits with the aim to help customers and achieve better financial outcomes for everyone. It provides People’s Pension, the largest commercial master trust in the UK based on members, serving seven million pension savers across the UK and managing £40bn in assets.

2. Good Things Foundation is the UK’s leading digital inclusion charity. It works to fix the digital divide at a hyperlocal level with its National Digital Inclusion Network – comprised of over 5,000 community partners providing a range of free digital inclusion support, such as:

The National Databank, providing free mobile connectivity data;
The National Device Bank, supplying free, refurbished devices to people in need;
and Learn My Way, our free flagship basic digital skills platform, which has supported thousands to get online.

It works in partnership with organisations such as Virgin Media O2, Vodafone, Accenture, and Nominet to deliver at scale, and advocate for digital inclusion to fix the digital divide – for good.

Good Things Foundation believes everyone should have the confidence, skills, support and access to use digital technology, participate in society and benefit from the digital world, with an ambition to partner with 5000 UK communities and to support 1 million people by the end of 2025.

Find out more: www.goodthingsfoundation.org

Media contact: press@goodthingsfoundation.org.

3. Digital Nation | The UK’s Digital Divide | Good Things Foundation

4. Members: Pension Talk Extra

Employers: Pension Talk Extra

5. Learn My Way offers free, beginner‑friendly digital skills training – including three pensions modules created through the partnership: ‘Pension Basics’, Managing your Pension Online’ and ‘Accessing your Pension Online’’ – to help people build confidence online.

IFAs call for new approaches to engage younger savers as pension expectations evolve

Nearly three quarters (74%) of IFAs say providers need new ways to engage younger generations
Almost two thirds (63%) believe support should start earlier to help savers make better retirement decisions
Over half (51%) say providers should play a more active role in supporting members in retirement
51% warn poor administration and service is a key driver of switching

Pension providers may need to adapt how they engage younger savers and support members across the full retirement journey, according to new research¹ from People’s Pension².

Nearly three quarters (74%) of independent financial advisers (IFAs) say defined contribution (DC) providers need new ways to engage younger generations, reflecting growing concern that traditional approaches may not fully connect with those at the start of their savings journey.

That challenge extends beyond initial engagement. Almost two thirds (63%) of advisers believe providers should do more to help savers make informed decisions earlier, highlighting the importance of support well before retirement comes into view.

Expectations also continue into later life. Over half (51%) of IFAs say providers should play a more active role in helping members manage their money once they retire, underlining the need for greater support as more people move from saving into drawing an income.

When asked what DC pensions should offer, advisers highlight the need for practical, accessible tools that support better decision-making. Digital member platforms (41%), improved data and reporting (39%), and integrated retirement and decumulation tools (38%) are among the most cited priorities, alongside more personalised communications (34%).

The findings come as People’s Pension calls on the industry to move beyond traditional communication approaches and adopt new ways of engaging savers earlier in their journey. This includes reaching audiences in more relevant, everyday contexts and making pensions easier to understand and act on.

Stuart Reid, Distribution Director at People’s Partnership ,said:

“What this research shows is that expectations are continuing to evolve. Advisers want to see support start earlier in the savings journey and continue through retirement, alongside practical tools and reliable service that help members make informed decisions at each stage.

“This is very much in line with what we are seeing in our recent webinar series, Pension Talk. Whilst in the past younger employees were often less likely to participate in pension discussions, as they felt the core questions were more relevant to colleagues nearing retirement, that is now changing.

“We are seeing much stronger interaction and participation from younger employees, along with a growing understanding of the importance of getting started early. That will have a meaningful impact on their long-term outcomes, and it is encouraging to see.”

Notes to Editor:

Data conducted on behalf of People’s Pension by Opinium Research from 22nd December 2025 – 5th January 2026 among a nationally representative survey of 500 SME decision-makers.
People’s Pension is the largest commercial master trust in the UK based on members, serving seven million pension savers across the UK and managing £40bn in assets. It is provided by People’s Partnership, a business without shareholders, it reinvests its profits with the aim to help customers and achieve better financial outcomes for everyone. This assessment is determined by membership size. People’s Pension currently has more than seven million members, which, according to publicly available industry data, exceeds the membership of any other commercial master trust.

Savers turn to Facebook groups as retirement decisions continue to confuse

Latest research reveals reality doesn’t match policymakers’ clean vision for pensions and retirement

Ten years after Pension Freedoms¹ promised greater choice for savers, new research from People’s Pension² reveals people approaching retirement are turning to Facebook groups to help understand their retirement options and make decisions about their pension savings, despite knowing the information they find online may not always be correct.

People’s Pension has published the latest findings of its unique longitudinal study New Choices, Big Decisions³, which has examined the retirement saving and spending habits of a selected group of older savers since the reforms were introduced in 2015. A decade on, many are still sleepwalking into retirement – unsure how to turn a pot into a pension and focused mainly on taking their full tax-free cash lump sum.

Facebook groups step in where providers fall short

Despite many attempts to improve engagement through planning tools, nudges, and guidance services, savers continue to find the pensions confusing and generic information hard to apply to their situation. Many lack confidence picking a retirement product and turn to Facebook retirement groups for help, finding them easier to navigate than official websites or guidance services.

While pension providers continue to offer more information on retirement planning, the research finds that communications often arrive at the wrong time or in the wrong tone, with little evidence they change behaviour. As a result, savers continue to make short term, convenience-led choices, rather than planning for sustainable lifetime income.

Tax-free cash rarely part of long-term thinking

The study finds that most people are continuing to take the full 25% tax-free lump sum, often while still working and when they have significant amounts of cash available in other savings. Rather than treating this as part of a long-term retirement plan, most people treat this as additional disposable income and quickly spend it on home improvements, gifts, or paying off debt, with any money left often moved into a low-interest cash savings account. Few realise that taking the money early can reduce their future retirement income or that it can be taken gradually over time.

Guided retirement critical to fixing messy retirement journeys

Since the first edition of its study in 2015, People’s Pension has called for the introduction of default decumulation products to help improve retirement outcomes. The ongoing challenges reinforces the need for guided retirement solutions to be offered to savers as an option, soon to be introduced through the Pension Schemes Bill⁴.

The study explores how these solutions could work in practice, testing features showing that with opt-outs work better than opt-ins, age 75 is the optimal age to introduce longevity insurance, and flexibility around early-retirement withdrawals is essential.

Negative perceptions of annuities remain entrenched, driven by worries about dying too soon to get payback from savings and wanting to leave money to families. Addressing these attitudes will be critical to the success of new guided products.

Kirsty Ross, Director of Proposition at People’s Pension, said:

“This research shines a light on just how difficult it still is for the average saver to make sense of retirement saving after ten years of pension freedoms. Savers are still faced with too much complexity and the wrong kind of support, so it’s no surprise that many are turning to social media for help instead of professional sources. The system isn’t giving people the clarity or confidence they need to make decisions that will shape the rest of their lives.

“The reality is that the nice, clean vision for retirement of policymakers and pension providers rarely plays out smoothly in practice. Real-life retirement journeys are far more complex and, as our study clearly shows, people need simpler but better targeted support, underpinned by strong default pathways. Providers and policymakers must now work together to ensure new guided retirement solutions offer the flexibility, simplicity and inclusivity that savers need. These products must be backed by clear, well-timed communications that truly connect with savers and help them feel confident about their pensions throughout retirement.”

“The vast majority of savers don’t want to become pension experts; they just want straightforward options that help them turn their savings into a steady income. Guided retirement solutions have the potential to deliver that simplicity and security. The next step is to make sure these products are designed around people’s real needs, with clear communication and practical guidance that helps every saver make the most of their pension.”

Notes to editors:

Pension Freedom and Choice were introduced in 2015, click link here.
People’s Pension is the largest commercial master trust in the UK based on members, serving seven million pension savers across the UK and managing more than £38bn in assets. It is provided by People’s Partnership, a business without shareholders, it reinvests its profits with the aim to help customers and achieve better financial outcomes for everyone.
This assessment is determined by membership size. People’s Pension currently has more than seven million members, which, according to publicly available industry data, exceeds the membership of any other commercial master trust.
New Choices, Big Decisions is in-depth qualitative research by consultancy Ignition House explores both retirement planning and spending habits following the introduction of pension freedoms in 2015. The full report is available HERE.
https://commonslibrary.parliament.uk/research-briefings/cbp-10293/