Preparing for the retirement you want

Retirement is often seen as a destination. But we think it should be viewed as one of life’s most important journeys. A journey that needs preparation and an early start, but one that can help achieve the future you want.

But it’s a journey not everybody is quite prepared for. Yet.

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Mapping out your journey

Life today is very different to how it was for previous generations. So why do we still imagine our paths to retirement will look like our parents’ and grandparents’ did?

Planning for a long and fulfilling future now requires us to choose between a range of possibilities. From deciding if you even want to stop working, to preparing for a multi-decade retirement. From prioritising saving for tomorrow, to ensuring you have what you need for today.

This means we’ve got more opportunity and flexibility than ever before, but it also means we’re faced with more decisions.

At Phoenix Group, we don’t think people should be expected to navigate this complexity alone. The Government, public sector bodies, the financial services industry and employers all have a role to play in making the necessary shifts to help everyone get ready for the retirement they want.

Driving system-wide change


Need for change

We think we need to reshape the systems that support us, to enable people to live better, longer lives. And our research shows there are key areas that could make a big difference.

Engaging With Financial Future

Improving how we engage people in their future finances

This should include widening auto-enrolment coverage; enhanced focus on financial literacy for people of all ages; and greater access to free financial guidance.


Encouraging saving through more flexible provisions

Additional defaults should be explored, such as auto-escalation of pension contributions when salary increases.

Vulnerable Customer Responding To Vulnerability

Creating a safety net of support for those unable to work longer or save more

We need to create better opportunities for good work and ensure that there is a safety net such as the state pension for those who most need it.

How we're helping our customers

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Products that meet people’s changing needs

With no typical path to and through retirement anymore, people need more flexible pensions and long-term savings products.

That's why across Phoenix Group our brands are introducing new solutions to support customer flexibility.

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Support for financial literacy and inclusion

It’s natural that people have different levels of confidence when it comes to money and saving. We want to help everyone feel in control and so we’re investing in financial education and user-friendly digital tools. 

Last year we gave 1.2 million customers access to our digital literacy resources, helping them to feel more confident online.

Family Members Hugging

Protection for the vulnerable

Any of us could become vulnerable at some point in our lives as the result of a life event, change in our health, or even an increase in our stress levels. And this can put us at increased risk of financial harm.

Our teams are trained to identify and support such customers with an extra level of care and empathy, flexible products and communications, as well as monitoring for scams.