'Urgent' retirement policy changes necessary to address undersaving crisis

Government retirement review best opportunity for change

Jenna Brown
clock • 2 min read

The government should use the next phase of its retirement review to introduce urgent policy changes to boost savers’ outcomes, a think tank has said.

Phoenix Group's longevity think tank Phoenix Insights outlined five priority areas to improve retirement adequacy ahead of the government's review which was launched in July last year. Phoenix Insights said its model suggested about 17 million UK adults were "not on track to retire when they want to on the income they want".  It said the undersaving crisis would come to a head in the 2030s and 2040s as the least financially prepared begin to retire. It urged the government to focus on furthering pensions auto-enrolment, to introduce a more flexible and engagement saving system, offer ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

DWP publishes state pension age communications action plan

DWP publishes state pension age communications action plan

Government confirms plan to develop strategy with ‘timely’ and ‘modern’ communications

Martin Richmond
clock 25 June 2026 • 4 min read
Ros Altmann: A pensions manifesto for the new prime minister

Ros Altmann: A pensions manifesto for the new prime minister

Ros Altmann says pension funds could be a 'silver bullet' to revive UK growth

Baroness Ros Altmann
clock 25 June 2026 • 6 min read
Scottish Widows launches pension tracing tool

Scottish Widows launches pension tracing tool

Some 3.3 million pension pots are 'lost' in the UK

Holly Roach
clock 24 June 2026 • 1 min read