Small steps

Small steps to a better future

Together with our research partner Nest Insight, we’re taking a deep dive into the world of auto-enrolment in the UK to ask whether better uses of language can help people in their mid-working life understand what their pension saving means for their retirement income

Download the report

Helping ‘the squeezed generation’

Last year, in our first piece of research in partnership with Nest Insight, we highlighted the importance of helping members of auto-enrolled pension schemes make a clear connection between the pension saving they do today, and the income they’ll get when they retire.

This year, in our latest study, we’re taking a generational leap forward to members midway through their careers – also known as the ‘squeezed generation’ – to consider what choices they can take in mid-working-life to help make a difference to their retirement outcomes.

In Small Steps, we speak to 9 industry experts, 65 Nest members and over 1,500 UK pension savers to understand the barriers to retirement income planning for people in their late 30s, 40s and early 50s, and identify the steps that can be taken to help them overcome them.

Download the report today to discover our findings.

Three common barriers to engagement identified

Our research uncovers some surprising detail on which barriers are preventing people in their mid-working-life from engaging with their pension at this critical time in their lives.

Three common barriers to engagement identified

Messages for change

By changing the way you frame retirement with language, you can help shift emphasis away from the barriers and reinforce positivity:

Optimised communications leads to striking changes

When asked before and after reading the messages developed in this research, significant increases were seen in the proportion of people who said they were likely or very likely to take action in the next six months:

  • Likely to use online tools such as retirement calculators: from 29% to 51%
  • Likely to set a retirement income or pension savings goal: from 23% to 40%
  • Likely to check the balance of my pension pot: from 52% to 69%
  • Likely to increase my pension contributions: from 16% to 39%

Download the report

In Small Steps, we speak to 9 industry experts, 65 Nest members and over 1,500 UK pension savers to understand the barriers to retirement income planning for people in their late 30s, 40s and early 50s, and identify the steps that can be taken to help them overcome them.

Full report

Watch the replay of our launch webinar

For professional clients only

In this interactive session, we discuss the findings of our research in more detail. Alongside our expert panel, we showcase some of the key points of Small steps to a better future and consider what they mean for pensions schemes and financial advice professionals.

Watch now

About our project partner

Established by the UK government as part of its auto enrolment initiative, Nest is one of the world’s fastest growing pension schemes with 8 million members and counting. Nest Insight is a collaborative research unit set up by Nest Corporation to help understand and address the challenges facing Nest members and other defined contribution savers. Working in partnership with industry, academics and policy makers around the globe, their mission is to understand and address the challenges facing defined contribution savers.

Investment risks

  • The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested.

Important information

  • Where individuals or the business have expressed opinions, they are based on current market conditions, they may differ from those of other investment professionals and are subject to change without notice.