Research and analysis

Pension Decumulation and Decision-making

A report of findings from qualitative interviews with individuals aged 53 to 67 exploring how they understand, approach and make decisions about pension decumulation.

• From: Department for Work and Pensions
• Published: 13 July 2026

Documents

Pension Decumulation and Decision-making report

Ref: ISBN 978-1-80786-020-2

PDF, 787 KB, 79 pages

This file may not be suitable for users of assistive technology.

Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email accessible.formats@dwp.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Details

This research was commissioned to understand how people make decisions about accessing Defined Contribution (DC) pension savings, in a landscape where individuals now bear more responsibility for decision-making. It draws on 55 qualitative interviews with a diverse group of respondents aged 53 to 67, capturing the range of experiences and challenges individuals face as they consider their retirement options. The interviews focussed on how people make decumulation decisions, what factors they consider and how they influence short- and longer-term decisions as well as what extra support individuals may need.

Published 13 July 2026