Retirement saving Archives - 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.

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.

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.

Employers focus on practical steps to support pension saving among younger workers

Three quarters (74%) of employers worry employees will not save enough for retirement as living costs squeeze disposable income
A similar proportion say they are worried about younger workers (77%) and low earners (77%)
More than four in five SME decision-makers (82%) say they feel a responsibility for employees’ financial wellbeing
Nearly half (45%) want better communication and education about pensions to improve engagement

SME employers are focusing on practical ways to support pension saving, particularly among younger and lower-paid workers, as financial pressures continue to influence saving behaviour, according to new research¹ from People’s Pension².

With nearly three quarters (74%) of employers worried that employees are not saving enough for retirement, there is a clear focus on helping more people stay engaged with long-term saving.

Employers are particularly focused on supporting younger workers and low earners, with more than three quarters (77%) concerned these groups are more exposed to financial pressures and may be more likely to step back from saving as costs rise.

This is reflected in expected behaviours, with one third (32%) saying younger employees are most likely to opt out of workplace pensions. Employers point to affordability as the main reason for opting out (38%), although understanding (24%) and perceived value (18%) also play a role, reinforcing the importance of clear, accessible communication.

Employers call for more support to improve workers’ financial wellbeing

More than four in five SME decision-makers (82%) say they feel a responsibility for employees’ financial wellbeing, even as three quarters (75%) say rising business costs limit how much they can increase pay.

The findings come as many employers identify gaps in pension understanding and engagement. Nearly six in ten (59%) say employees do not fully understand the value of their pension, while more than half (52%) are concerned employees are not engaged or getting the most out of the scheme available to them.

Nearly half of employers (45%) say clearer communication and education about pensions would improve engagement, while 40% highlight the importance of additional support for financial wellbeing and retirement planning.

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

“Employers are clearly focused on how they can support their workforce, particularly younger and lower-paid workers who are more exposed to financial pressure. As many households face renewed pressure on day-to-day finances, helping people stay engaged with long-term saving has become even more important.

“What this research highlights is the importance of communication and support in helping employees engage with their pension. Where understanding is lower, simple and accessible guidance can play an important role in helping people make informed decisions about their long-term finances.

“Even in a challenging environment, workplace pensions remain a key part of long-term financial planning. Supporting employees to stay engaged with saving, even at modest levels, can make a meaningful difference over time.”

Notes to Editor:

1. 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.

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 welcomes historic passing of Pension Schemes Bill

People’s Pension¹, the UK’s largest commercial master trust, has welcomed the passing of the Pension Schemes Bill, hailing it as a turning point for UK pensions, with reforms which aim to deliver long‑term benefits for savers and the wider industry.

The Bill, which completed its legislative scrutiny through Parliament last night, is now set to become law. It is positive news for savers, including the seven million people who hold a workplace pension with the People’s Pension. The proposals, put value for money and saver outcomes clearly at the heart of a more efficient workplace pensions system.

Commenting on the Bill passing through Parliament, Patrick Heath‑Lay, Chief Executive Officer of People’s Partnership, provider of the People’s Pension, said:

“This is a historic moment for the UK pensions’ market. The Bill contains several important market reforms that will drive scale and efficiencies, while ultimately ensuring that better value is delivered to millions of pension savers. These changes will further strengthen the UK pensions system and help it drive investment into the wider UK economy.

“We are particularly encouraged by the introduction of default consolidator schemes, which offer a strong solution to the long‑standing challenge of small, deferred pension pots, alongside the inclusion of value‑for‑money measures within the legislation. Ensuring savers can clearly understand and assess the real value offered by different providers is essential. Equally we welcome the proposals to introduce default decumulation solutions to support members both plan and manage their retirement savings effectively. We are well into the planning phase of our own solution and believe it is vital component in supporting people make the right financial decisions that can be complex and hard to navigate.

”These reforms are only the beginning, and the needs of savers must be kept firmly at the heart of this evolving process to future proof retirement saving. We look forward to working constructively with Government, regulators and alongside the industry to ensure the measures are implemented in a way that builds on the success of automatic enrolment and delivers meaningful long‑term benefits for savers.”

As a scheme that already operates at the scale envisaged by the Bill, with more than £40bn in assets under management, People’s Pension is well placed to support the delivery of these reforms.

The Bill is expected to gain Royal Assent shortly.

Notes to Editor:

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.

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.

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.

Pensions adequacy drive must break the cycle of failed ideas

People’s Pension has called for pensions adequacy initiatives to break the cycle of failed ideas and experiment with new ways of engaging people with their retirement savings.

The UK’s largest commercial master trust is calling time on well-intentioned, traditional efforts to get people excited about their pensions, which have had limited recent success.

People’s Pension is asking the pensions industry to support its mission to experiment with new and different types of pensions engagement to find out what truly works. It began expanding its own experiments last year with a national advertising campaign aimed at exposing the realities for members of different pension provider ownership models, achieving a 35% increase in brand relatability for calling out shareholder-owned firms through its use of ‘fat cat’ imagery.

People’s Pension has also focused on Gen Z, who are most likely to opt out of pensions but have the longest time to save for retirement and the greatest opportunity to make a significant positive difference to their pension pots. It has experimented through its ‘Pension Drop’ campaign, which ‘drops’ pensions information into unexpected places to reach new audiences who aren’t seeing or acting on traditional provider communications.

People’s Pension first worked with lifestyle social media content creators to bring pensions to their followers for the first time, receiving above benchmark engagement versus similar influencers and content, and overwhelmingly positive feedback.

Since then, it has expanded the campaign to ‘drop’ pensions information in unusual ways in the real-world, giving away 3,500 pension-themed Christmas crackers at Victoria Station in December. Its latest experiment saw it descend on Brighton Railway Station this weekend to hand out 3,000 Valentines’ Day cards with a pensions-themed love poem and the message that pensions are a great way to love ‘future you’.

Kirsty Ross, Proposition Director at People’s Partnership, provider of People’s Pension, said: “We are at real risk of sleepwalking into another generation of under-saving. If we continue to approach pensions adequacy with the same thinking and the same tactics, we shouldn’t be surprised when we get the same disappointing results.

“The pensions industry desperately need to break the cycle of failed ideas and try something different and new. We owe it in particular to Gen Z, the youngest generation of our current workforce, because we have the greatest opportunity to make the largest possible difference to their retirement outcomes if we get this right.

“Tried and tested methods of engagement aren’t enough. We have made the decision to expand our repertoire and find new ways that cut through using things we know Gen Z actually like. That means hijacking popular culture, partnering with people they watch and listen to and being in public places where we’re impossible to ignore.

“But we can’t do it alone. That’s why we’re calling on the industry to join us, be bold, try something different and find what can truly get people excited about pensions. Only then will we have the opportunity to meaningfully address the adequacy challenge and change the retirement fortunes of a whole generation of savers.”

ENDS

Notes to editors

About People’s Pension’s #PensionDrop campaign: About People’s Pension’s #PensionDrop campaign: People’s Pension’s #PensionDrop campaign is designed to encourage more people, particularly younger savers, to engage with pensions in a more accessible, everyday way. By dropping simple, practical pension know-how into familiar cultural moments, social media and real-world experiences, the campaign aims to move conversations about future security out of traditional financial settings and into places people already are.

Notes to editor:

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.
All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2074 adults. Fieldwork was undertaken between 26th – 27th January 2026. The survey was carried out online. The figures have been weighted and are representative of all UK adults (aged 18+).

About People’s Pension’s #PensionDrop campaign: About People’s Pension’s #PensionDrop campaign: People’s Pension’s #PensionDrop campaign is designed to encourage more people, particularly younger savers, to engage with pensions in a more accessible, everyday way. By dropping simple, practical pension know-how into familiar cultural moments, social media and real-world experiences, the campaign aims to move conversations about future security out of traditional financial settings and into places people already are.

Nearly nine in 10 of UK adults believe that without financial education, we will all be poorer in the future, as People’s Pension enhances app experience for its 7 million members

People’s Pension integrates financial wellbeing platform nudge into member app to help tackle financial education gap

New research has revealed how the majority of adults think that without financial education, we will all be poorer in the future, and we are failing future generations if we don’t equip them with financial literacy.

The YouGov survey¹, commissioned by People’s Pension², which serves more than 7 million members, reveals a strong public desire for better financial education:

85% of adults believe that without financial education, we will all be poorer in the future.
91% of adults say we are failing future generations if we don’t equip them with financial literacy, and the same proportion also agree financial education should prioritise long-term planning, not just short-term needs.
88% believe pensions should be taught in schools.
80% wish they had received financial education themselves at school, and 74% are worried about the financial future of children in the UK. There’s even support for re-prioritising the school curriculum, with 74% agreeing that financial education should take precedence over some existing subjects.
Alarmingly, 21% have never heard the term “financial education” – particularly among women (24%), older adults (55+: 31%), and C2DE groups (29%)³.

The publication of the research comes as People’s Pension announces a significant update to its member app⁴, integrating financial wellbeing platform, nudge⁵, which they believe will help tackle the UK’s financial education gap.

The integration gives People’s Pension’s members seamless access to personalised well-being resources, including budgeting calculators, planning tools, and tailored content aligned to life stage and goals. Features include Single Sign-On (SSO) for a smoother, more secure login experience and an enhanced user interface (UI) designed to make financial journeys simpler and more intuitive.

David Meliveo, Chief Commercial Officer at People’s Partnership, said:

“This new research highlights an urgent need and desire for accessible financial education and support in the UK. It’s very clear to me that the British public feels let down in this area, meaning it’s vital that organisations like ours step up and fill that gap.

“We’re thrilled to announce the integration of nudge into mobile app – a game changer for financial well-being, with proven impact – 94% of nudge users feel confident managing their money, compared to just 78% of non-users⁶. By bringing this tool to our seven million members, we’re closing the financial knowledge gap and empowering people to make smarter, more informed decisions about their financial future.”

Tim Perkins, CEO and Co-Founder, nudge, said:

“Our mission at nudge is to make financial education accessible, practical, and engaging for everyone. The new app integration, combined with an enhanced user experience, will help deliver on that promise to the members of People’s Pension.”

Notes to Editors:

1. All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2,157 adults. Fieldwork was undertaken between 10th – 11th July 2025. The survey was carried out online. The figures have been weighted and are representative of all UK adults (aged 18+).

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 £39bn 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. C2DE covers skilled manual occupations and Semi-skilled & unskilled manual occupations, Unemployed and lowest grade occupations. Social Grade A, B, C1, C2, D, E – UK Geographics

4. Since launching in 2024, People’s Pension’s member app has been downloaded by more than 500,000 members, who will now benefit from the new nudge integration.

5. About nudge Global: nudge is the impartial, global financial education benefit for all. Combining behavioural psychology, data and personalised education, nudge empowers people to develop their financial skills and knowledge. A global benefit without conflicting financial products, our inclusive approach is trusted by millions worldwide.

6. Data taken from website: nudge Global.

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/

A crackers idea? People’s Pension rewrites rules of pensions engagement with festive event at Victoria Station

People’s Pension¹ spread a little festive cheer at Victoria Station this weekend with a Christmas cracker giveaway designed to get more people talking about their pensions.

With the help of two life-size model reindeer, the workplace pension provider handed out more than 3,500 crackers that were specially designed to spark pension conversations. As well as chocolate coins and pension-themed Christmas jokes², each contained a message about the value of saving for our futures.

Passers-by were invited to pull a cracker with the People’s Pension team, with a donation from each going to its Charity of the Year, St Catherine’s Hospice³ in Crawley, which provides vital care and support across Sussex and Surrey.

The festive event was part of an innovative public engagement campaign by People’s Pension called the #PensionDrop⁴, which aims to rewrite the traditional rules of pension engagement by finding new ways to ‘drop’ helpful pension facts, tips and nudges into people’s everyday lives.

Molly Handley, Brand Lead at People’s Pension, said:

“We know not everyone loves talking about pensions like we do – and that it can be hard to find time to think about our futures when we’re so busy today. That’s why the #PensionDrop is experimenting with different ways to have this important conversation.

“By meeting people where they are, whether that’s on their travels through Victoria Station, or through the social media influencers they follow, we hope to encourage more people to think about their pension. Saving a little and often towards our retirement is the best gift we can give to our future selves, which is the message we were spreading at Victoria Station, alongside a lot of festive cheer.”

Research⁴ from People’s Pension found that nearly half (47%) of Gen Zs are not engaged with their pension, while 12% believe there’s no point engaging at all because they don’t think they’ll ever be able to retire. Its research also uncovered the types of messages that resonate most with younger savers. For example, 70% are motivated to act knowing that starting to save in their 20s could double their pension pot compared with starting in their 30s.

In response, the #PensionDrop campaign has also been experimenting with dropping pensions facts like this one into partnerships with celebrities and social media influencers who post about a whole range of topics, such as comedian and TV presenter Iain Stirling, manifesting expert Roxie Nafousi, parenting influencer Warren Hoyte and lifestyle creator Beth Fuller:

‘With a workplace pension, every 80p you put in turns into at least £1.60. It’s a bit like free money from your boss and the government.’

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

“Traditional pensions messaging can put people off, as our research has shown, so it’s time to try something new. Putting pensions tips into crackers might seem a crackers idea, but it’s all part of an important mission to change the way our industry engages with savers.

“By replacing jargon and scare tactics with simple, upbeat messages, we’re showing that saving for the future doesn’t have to be complicated, and that even small steps now can make a big difference later.”

Notes to editors:

1. People’s Pension is the largest commercial master trust in the UK based on members, serving seven million pension savers (including nearly one million Gen Z) across the UK and managing more than £38bn in assets. It is provided by People’s Partnership, a business without shareholders, that reinvests its profits with the aim of helping customers and achieving better financial outcomes for everyone.

2. People’s Pension’s pension-themed Christmas jokes include:
• What do Santa’s little helpers do once a year with their pensions? A financial elf-check.
• Why did the gingerbread man check his pension? He didn’t want his dough to crumble later.

3. St Catherine’s Hospice.

4. The #PensionDrop campaign is part of a broader effort to rethink how we talk about saving for the future, particularly with younger savers, replacing jargon and doom-laden messaging with simple, positive reminders that small steps now can make a big difference later. It’s a social-first campaign, with content from creators including bethmfuller, daywithday, iaindoesjokes, and roxienafousi.

5. Research conducted on behalf of People’s Pension by Opinium Research from 29th August – 2nd September 2025 among a nationally representative survey of 2,000 UK adults

People’s Pension launches new regular planning tool for members

Part of ongoing enhancements to help members make confident retirement choices

The UK’s largest commercial master trust¹, People’s Pension², has launched a new regular income planning tool to support its in-scheme drawdown proposition.

With more People’s Pension savers approaching retirement³ and an increasing need to provide greater support for people in retirement, the launch is the latest in a series of planned proposition enhancements designed to help its seven million members manage their pension savings more sustainably in retirement. The feature is another step towards a fully guided retirement experience, which the provider is developing in response to the evolving needs of its members.

From today, eligible members who want to set up a regular income can use the planning tool to understand what level of income their savings can support. The new tool, integrated into members’ online accounts, allows them to choose either an income value or a target duration for their income, with projections based on modelling from Hymans Robertson.

Through a new nine step and 15-minute end to end intuitive journey, members can understand, plan, consolidate and set up their regular income. They can choose to have their income adjusted for inflation, with annual reviews against CPI helping their payments keep pace with rising costs. To promote sustainable withdrawals, the tool will show an updated view of how long income is expected to last each time a user logs into their online account and will issue alerts as pots diminish.

It remains available for members to revisit and adjust as their circumstances change. In addition, eligible members will be able to seek help over the telephone from the People’s Pension team as part of its new retirement guidance service.

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

“As more savers move from building up their pensions to drawing them down, they need tools that make the transition easier. Our new tool supports members in that that shift, offering flexibility backed by clear information and modelling.

“Retirement isn’t a single moment – it’s a series of choices that evolve over time. We’ve designed this tool to help members manage those choices with confidence, giving them a clear view of how long their income could last and the flexibility to adjust as their circumstances change. This latest development is about giving members practical support that fits the way real retirements unfold.”

Stuart Reid, Distribution Director, said:

“Our employer customers are increasingly aware of the duty of care they have; to support staff beyond the workplace and into retirement. Financial wellbeing doesn’t stop at the point of leaving work, and helping employees make confident, sustainable decisions about their pension income is an essential part of that responsibility.

“What we have announced today helps employers feel confident that their employees are better prepared for life after work. It’s another step in strengthening the link between good workplace benefits provision and long-term financial security.”

Paul Waters, Partner, Head of DC Markets, Hymans Robertson, said:

“As the DC-only generation come to take their pension in ever greater numbers, there is a clear need for comprehensive support and guidance from providers. Financial advice will not be practical for some. However, with the right guidance and tooling, as the People’s Pension are delivering here, it can make a daunting moment far easier and help members maximise their income while spending sustainably.

“We are pleased to be supporting People’s Pension via our Guided Outcomes® APIs to deliver a better retirement for their seven million members.”

The tool complements a wider set of resources designed by People’s Pension to help members make informed choices about their retirement savings, including the Pension Consolidation Calculator and Pension Finder service.

Notes to editors:

1. 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.
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. The pre-retirement portion of the People’s Pension retirement fund has nearly 1.7 million savers invested into it. 1,350,715 are 55 or over.

Budget 25: Response to salary sacrifice cap

In the Autumn Budget today (November 26) The Chancellor to the Exchequer, Rachel Reeves announced that salary sacrifice on pensions will be capped at £2,000 from 2029, so that contributions above this threshold are eligible for National Insurance contributions.

Responding to this change, Patrick Heath-Lay, Chief Executive Officer of People’s Partnership, provider of People’s Pension to seven million savers, said: “Like many, we had hoped salary sacrifice would not be touched in the Budget: this will have a significant impact on some savers and on business.

“However, even with salary sacrifice capped at £2,000 from 2029, pensions remain strongly tax advantaged. Tax relief on pension contributions added £70.8bn to saver’s pension pots last year. Restricting salary sacrifice will make the pensions tax regime less generous but the tax raised will be a small portion of available tax breaks: likely to be less than 5% of total tax relief in 2029.

“We would urge pension savers not to mistake this change for a fundamental overhaul of the pension tax system: these changes should not dent confidence in pension saving.”

ENDS