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Research and reports

Browse our recent reports and policy responses
  • Research and Reports

Changing Journeys: How we save, work and retire

People reaching retirement today started out on their working and saving journey many decades before. But over time, the way we work, save and retire has been changing, and will continue to change in the future.

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  • Financial security
    Retirement
    Work
  • 2021 2022 2023 2024 2025
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    Submission to the House of Lords Economic Affairs Committee Inquiry on Preparing for an Ageing Society

    In March 2025, the House of Lords Economic Affairs Committee launched an inquiry called Preparing for an Ageing Society.
    Work
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    Power of Attorney, why public engagement is so low and why that matters

    Power of Attorney (POA) is a way for a person to give someone they trust legal authority to make financial, property, health and welfare related decisions on their behalf. They are arguably more important than wills, as they can affect your quality of life, from the ability to pay bills or decisions around healthcare, during your lifetime.
    Financial security
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    Work in Progress: Unlocking the value of adult careers guidance

    There are approximately 4.5 million adults in the UK who are either looking to change jobs, at risk in their current role, or who are ‘very unhappy’ in their work. As a society and an economy there is an overwhelming case to improve people’s careers options and opportunities through effective careers guidance.
    Work
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    What role could Targeted Support play in supporting consumers at retirement?

    Longer lives bring more choices and more opportunities, but also more decisions and more risks. When it comes to thinking about how and when to retire, people tend to be unaware of and unprepared for the decisions they’ll need to make and the potential consequences of making them.
    Financial security
    Read the story
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    Changing Journeys: How we save, work and retire

    The way we work, save and retire has been changing, and will continue to change in the future.
    Financial security
    Read the story
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    Exploring what mid- to late-career workers think about 'green' jobs

    Phoenix Insights have published their latest report ‘Resourcing the net zero transition: What do workers in their mid- and late-careers think of ‘green’ jobs?’ This report examines the perceptions of the existing workforce towards career switching into roles in a net zero economy
    Work
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    Tomorrow’s problem? Analysing the future impact of DC pension undersaving

    As the working-age population faces more responsibility for securing their financial future, evidence suggests that many are not saving enough to meet their retirement needs.
    Financial security
    Read the story
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    A roadmap to adequate retirement incomes for all

    Phoenix Group previously called for a holistic review of pensions adequacy, and are pleased to see the new Government’s commitment to do so in the coming months. The long standing question of ‘how much is enough’ for retirement can be complex and wide reaching one.
    Financial security
    Read the story
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    Could reducing the “age employment gap” achieve the government’s 80% employment aim?

    The new government has set a target to achieve an 80% employment rate among 16-64 year olds
    Work
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    Should the new government introduce an employment advice guarantee?

    What could the government could do to consolidate public employment and careers services to open up access to all who may need it?
    Work
    Read the story
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    Pre-retirement poverty: causes and solutions

    This timely research looks at an important, but often overlooked, issue for millions of people in the UK – the increase in rates of poverty in the years leading immediately up to state pension age.
    Work
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    “How much is enough?” A new retirement adequacy model

    UK is under-saving – based on our previous research, 55% of defined contribution (DC) savers are either not on track or not expecting to meet the Pensions and Lifetime Savings Associations (PLSA) minimum retirement living standard. That begs the questions of both whether they could save more, and if the benchmark is a suitable target for them.
    Financial security
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    Enhancing employment support and skills offers for experienced workers

    Our recent research highlighted that over a third of 45 - 54-year-olds are expecting their career to change before they retire. However, many people are unsure how best to navigate these changes or where to get information and advice on what opportunities are out there.
    Work
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    Developing and delivering Midlife MOTs

    Midlife MOTs are a relatively new initiative aimed at providing information and opportunities to adults in their midlife and mid-career; to consider their skills, financial security, wellbeing and future retirement planning
    Financial security
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    Planning for retirement: the pensions knowledge gap and attitudes to working longer

    The 2021 Census revealed that the proportion of people aged over 65 exceeded the proportion of children aged 15 or under for the first time (ONS, 2023).
    Financial security
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    The Festival of Learning Awards

    We are proud to partner with L&W on their Festival of Learning campaign. The inspiring stories of the nominees are proof positive of the life-changing role that learning can play in people’s lives.
    Work
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    Future of the state pension

    Today, the state pension is at a critical juncture, facing questions over affordability and intergenerational fairness in the context of an ageing population and increasing longevity.
    Financial security
    Read the story
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    Pathways to retirement

    We want to understand people’s expectations about how they will transition from work into retirement, to ensure that government and employers enable and support people to stay in work for as long as they want and in the way they want.
    Retirement
    Read the story
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    Careers advice for longer lives

    With people living longer lives than our parents’ and grandparents’ generations, many of us will want or need to work for longer. In a world of fast-moving economic, technological and ecological change, it is now widely accepted that for lots of us, the ability to change roles, reskill and switch sectors is becoming increasingly important.
    Work
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    Understanding the implications of the state pension age (SPA) review

    Following the first independent review of the SPA by John Cridland in 2017, the government recently published the second independent review by Baroness Neville-Rolfe. Due to uncertainty in life expectancy data the government have decided not to accelerate the SPA increase at this stage. Instead there will be a further SPA review in the next parliament within two years.
    Financial security
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    Beyond the great retirement: Understanding and tackling economic inactivity amongst the over 50s

    Almost 1 million people aged 50-64 have left the workforce since the pandemic. Why the UK is seeing dramatic changes to workforce participation amongst over 50s is therefore a major concern.
    Retirement
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    Retirement preparations among different ethnic groups

    To improve retirement prospects for the whole of society in the UK we need a better understanding of ethnic differences in future retirement outcomes and the drivers behind them, so that any appropriate interventions for the government and the industry can be identified and designed.
    Financial security
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    Caught in a gap

    The impact of women’s life events do not just affect their finances today, but can also affect their financial futures, as lower earnings result in lower pension contributions over time.
    Financial security
    Read the story
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    Why offering learning & development is not enough

    Our previous research has shown that 18 million adults in the UK are not adequately preparing financially for later life, and 10 million are not confident in their ability to secure work, with many worried that a lack of skills will stop them from earning what they need to save for retirement.
    Work
    Read the story
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    Great Expectations

    Many people working today face a huge challenge when it comes to planning and saving for their financial security in retirement. Using our Phoenix Insights Longer Lives Index data – a survey of 16,500 people aged 25 and over who aren't yet retired - we explore the adequacy and achievability of people’s retirement income expectations and look at how financial preparedness can be better achieved.
    Financial security
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    Public Engagement in Longer Lives

    Switching people on to the opportunities that longer lives present can be a daunting task. To help people to reimagine the ways in which we can live better, longer lives Phoenix Insights commissioned a qualitative, deliberative research study.
    Retirement
    Read the story
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    Reaching a certain age: Public attitudes to the state pension

    The state pension matters to a lot of people. 12.5m (and rising) adults in the UK receive it. We spend £110bn a year on the state pension, and it provides the majority of the income for nearly half of pensioners.
    Financial security
    Read the story
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    Conference presentation: Professional Pensions Live

    Presentation slides from Catherine Foot setting out our mission, approach and recent work.
    Financial security
    Read the story
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    A crisis of confidence | Standard Life

    Action is needed to prevent millions of people in the UK from slipping into financial insecurity in later life.
    Financial security
    Read the story
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