5 May 2026
2026 is a pivotal year for pensions reform. The Pensions Commission is working to define the challenges around adequacy and set out potential solutions. However, any meaningful overhaul risks falling short if it overlooks the lived experiences, values, and preferences of pension savers. How do individuals balance saving more today against buying a home or reducing debt? What does fairness look like when sharing responsibility between individuals, employers, and the state? And whose voices remain absent from today’s policy debate?
Encouragingly, the IFoA is taking forward work in this area. In partnership with Standard Life, Nest, Pensions UK, and The People’s Partnership, we have supported the New Citizens Project (NCP) to explore the feasibility of a citizens’ assembly, or a similar deliberative process, to inform the work of the Pensions Commission.
Approaches like this one bring together a diverse, representative group of people to engage with expert evidence, weigh complex trade-offs, and develop informed recommendations. They have proven effective in addressing challenging policy issues elsewhere. Applied to pensions, they offer a valuable way to surface public perspectives on adequacy targets, contribution levels, risk-sharing, and fairness.