Sun over security: Brits twice as likely to save for a holiday as for their pension

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• Saving for a holiday is twice as much a priority for UK adults (31%) as saving into a pension (15%), with almost a third (28%) admitting they prefer to ‘live for today’ than plan for tomorrow
• As cost-of living pressures continue, funding day-to-day finances is the top financial priority for the year ahead, cited by two fifths of UK adults (40%)
• More than a third (35%) recognise they might not be saving enough for retirement, while nearly half (47%) say their retirement prospects feel shaped by forces beyond their control
• Standard Life provides tips on how to balance short and long-term priorities

UK adults are prioritising short-term enjoyment over long-term financial security, with holidays and everyday spending taking precedence over pension saving, according to new research from Standard Life’s Retirement Voice report¹.

With the cost of living continuing to squeeze household budgets, almost a third of Brits (28%) say they prefer to live for today than plan for the future. Managing day-to-day finances is the top priority (cited by 40%), followed by saving for holidays (31%), while just 15% say contributing to their pension is one of their top financial priorities.

This “live for today” mindset persists despite growing awareness that auto-enrolment alone may not guarantee a comfortable retirement. While more than a third (35%) recognise that they may not be saving enough, almost half (45%) still believe they are on track – exposing a gap between confidence and reality.

Uncertainty and the ‘live for today’ mindset

A growing sense of uncertainty may also be influencing people’s attitudes to the future. Nearly half (47%) say their retirement prospects feel shaped by forces beyond their control, while over eight in ten (83%) feel the world is less stable than it was in previous years. Over half cite changes in the UK (59%) and globally (57%) as reasons for lower confidence in their financial futures.

Mike Ambery, Retirement Savings Director at Standard Life said: ”It’s understandable that many people are focusing on meeting their day-to-day costs, and prioritising a well-earned break. But even in tougher times, keeping one eye on the future can make a big difference. Regularly putting something aside for later life – however small – can help you keep your long-term plans on track without missing out on what matters today.

“Unsettling news at home and abroad can make it feel as though your financial future is out of your hands – but achievable, consistent actions can have a lasting impact, and make you feel a bit more secure. Whether that’s setting a clear budget, building up an emergency fund, or checking in on your pension and boosting it you need to, small steps towards boosting your overall financial wellbeing can help you feel more confident and in control.

“It’s not about giving up what you enjoy today – it’s about finding a balance that works for both the present and the future. In fact, the contributions you make today could help you enjoy more freedom and choice later on – whether that’s taking longer trips, travelling more often, or simply having the time to explore the world on your own terms when work is no longer in the way.”

Top tips for balancing living for today and planning for tomorrow

1. Build a clear picture of your finances
“Start by tracking your income and expenses to understand your financial flow each month. Try using budgeting apps or a simple spreadsheet to categorise your spending into essentials, lifestyle, and savings. This clarity helps you spot areas where you can save without sacrificing enjoyment, like switching to a cheaper subscription or cutting back on impulse buys.”

2. Separate short-term and long-term goals
“It can be helpful to create distinct savings “pots” for different goals – for example holidays, home improvements, emergency funds, and retirement. Automating transfers into these pots can make saving feel effortless. Watching each pot grow gives you the satisfaction of progress while keeping your long-term in motion.”

3. Keep your pension contributions consistent
“Even if you’re not able to increase your pension contributions right now, staying consistent is key. Regular payments have the potential to benefit from compound investment growth - over time, this can significantly boost your retirement savings and give you greater options in later life, from more travel to more freedom in how you spend your time.”

4. Review your progress once or twice a year
“Set a reminder to check in on your finances every six months. Review your pension statements, savings balances, and spending habits. These mini check-ins help you stay aligned with your goals and can be surprisingly motivating - especially when you see how far you’ve come.”

5. Make the most of employer pension contributions
“If your employer offers pension matching or additional contributions, take full advantage. It’s extra money that boosts your retirement fund. It’s also worth looking out for government incentives, tax reliefs, or cashback offers that can stretch your money further.”

6. Don’t forget to enjoy life today
“Financial wellbeing doesn’t have to mean never having any fun. Factor enjoyment into your budgeting - whether it’s dining out, hobbies, or spontaneous treats. When you know your future is being looked after, it’s easier to enjoy the present without guilt or worry – and to look forward to a future where you can make the most of your time without work to think about.”

 

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Notes to editors:

1 - [1] Retirement Voice 2025 | Standard Life
Research conducted by Ipsos on behalf of Standard Life in June 2025. In total 6000 participants took part in the online survey. Participants were aged 18-80 and were a mix of working, unemployed and retired people. Quotas and weights were used to ensure the respondents were representative of the UK general population on age, gender and region.

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