• Standard Life’s DB Member Insights Report 2026 reveals that 86% of defined benefit (DB) pension members confident about their pension
  • However, this is based on broad understanding rather in-depth detail
  • The report calls for clear communication and practical support to reassure members during the transition to buy-out when schemes achieve endgame strategies 

Confidence among defined benefit (DB) pension members is high, with 86% saying they feel confident about their pension, and trust it is secure, understand how it works and expect it to deliver without surprises. This is largely due to trust in the system and broad understanding about their pension, according to Standard Life’s new DB Member Insights Report 2026.

“Behind the Numbers”, draws on a quantitative survey of 1,000 DB members across the UK combined with in-depth interviews to explore what people really think, feel, and need when navigating their pensions.

The research highlights why across all groups, clear and simple communication in the run up to and post buy-out is vital. Although 86% of members say they feel confident about their pension, this drops at times of change. The cohort most likely to undergo change reports being the least comfortable with only 28% of over-55s feeling comfortable compared to 77% of those aged 25–34.

Furthermore, the research also shows that if a scheme moves to buy-out, 92% of members would have some concern. Interviews revealed that this comes from not knowing answers to questions such as who is responsible for their benefits and is everything on track for their retirement.

The research also shows that when it comes to their DB pension, members want more practical support. When asked what would be the most help when it comes to managing their pensions, helpdesk/live chat access (45%) was the top choice, with one-to-one advice (41%) and easy-to-use tools like calculators coming in third (39%).

Claire Altman, Managing Director PRT & Individual Retirement at Standard Life, said: “Members of DB schemes have had to contend with years of uncertainty around deficits and the risks that posed to their potential entitlements. This challenge has by and large receded for most schemes and members feel rightly confident about the outlook for their pensions. That said, schemes must be mindful of the communications challenge posed by a move to buy-out and the need for reassurance.  Members want to understand what’s happening and why, and they need clarity that their benefits are protected by the strict capital requirements for insurers. Our role is to make that journey smoother by giving them the clarity and confidence they need at every stage.”

Mark Fenlon, Director of Client Services at Standard Life, added: “Behind every statistic is a person planning their future and it’s clear that members want clarity about what’s changing and whether their benefits remain secure. The answer isn’t more paperwork, but practical solutions that make pensions easier to navigate which is why we’ve invested in tools and support with our partner Equiniti.

“As schemes move toward buy-out, the industry has a real opportunity to turn uncertainty into trust through clear communication and accessible tools. Financial security alone isn’t enough, and members need reassurance to feel confident through change.”  

-Ends-

Enquiries

For further information, photos, video content or interviews, contact:

Samantha Griffith
PR Manager
Standard Life, part of Phoenix Group
07752 465345 
samantha_griffith@standardlife.com

Notes to editors:

1 Report is available here. It is based on a survey of 1,000 DB members across the UK in October 2025. It was commissioned by Standard Life and conducted by Censuswide.
 

About Standard Life

  • Standard Life is a brand that has been trusted to look after peoples’ life savings for over 200 years.
  • Today it proudly serves millions of customers who come to Standard Life directly, through advisers and through their employers’ pension scheme.
  • Standard Life is part of Phoenix Group, one of the largest long-term savings and retirement business in the UK. We’re proud to be building on 200 years of Standard Life heritage together. Our products include a variety of Pensions, Bonds and Retirement options to suit people’s needs, helping our customers to invest and save for their future. We’re proud to offer a leading range of sustainable and responsible investment options.
  • We support our customers on their journey to and through retirement with comprehensive, easy-to-understand guidance so they can invest in the right way for their needs and plan a future they feel confident about.
  • The value of investments can go down as well as up and may be worth less than originally invested.

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