How should individuals be supported at, and throughout, retirement when choosing how to access their workplace pension?
Background
Shaping a pensions system that serves the interests of savers and pensioners is central to DWP’s work to support decent, secure retirement incomes for all. This group of questions covers evidence on pension adequacy, financial resilience, pensioner poverty, retirement choices and the functioning of workplace, private and state pension systems. DWP is interested in how demographic change, economic conditions, employment patterns and saving behaviour affect outcomes for different groups, including those at greater risk of under-saving or financial insecurity. Evidence is also needed on how savers and pensioners engage with pensions and pensioner benefits, how employers respond to pension obligations, and how pension markets are changing. External research can help DWP understand long-term risks and trade-offs, the balance of responsibility between individuals, employers and government, and how policy and market design can support decent, secure retirement incomes while considering wider economic impacts.
Next steps
Send correspondence and further questions to [email protected]
Research fields
Related UKRI funded projects
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The adequacy and optimality of retirement provision: household behaviour and the design of pensions
The UK is currently in the midst of sweeping changes to both state pension provision and private pension arrangements. Recent policy reforms include the introduction of the 'new state pension' from April 2016, further in...
Funded by: ESRC
Lead research organisation: Institute for Fiscal Studies
Why might this be relevant?
The project directly addresses the implications of retirement policy reforms and household behavior related to workplace pensions.
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Dynamics in private pension saving across the income distribution
How much people save for their retirement is extremely important. It matters not only for individuals' wellbeing but also for society in general because those with insufficient private savings are more reliant on governm...
Funded by: ESRC
Lead research organisation: Institute for Fiscal Studies
Why might this be relevant?
The project focuses on pension saving patterns across different groups and the role of policies, partially addressing the question.
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The Thatcher pension reforms and their consequences
Since the end of 2006 there has been a widespread consensus that Britain's pension system is seriously dysfunctional. The debate over the nature and extent of the 'pensions crisis,' and over ways in which it might best b...
Funded by: AHRC
Lead research organisation: University of Bristol
Why might this be relevant?
The project explores the historical roots of the pension crisis, which is not directly related to supporting individuals in retirement with workplace pensions.