This document explains how we will measure the adequacy of people's future retirement incomes.
Ref: ISBN 978-1-78153-799-2 PDF, 283KB, 42 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 firstname.lastname@example.org. Please tell us what format you need. It will help us if you say what assistive technology you use.
The government aims to help people maintain their standards of living in retirement. To achieve this, the government has announced a new State Pension and introduced automatic enrolment into workplace pensions. This document gives an overview of future retirement incomes to look at the impacts of the pension reforms as a whole and identify where future challenges remain.
It shows that as a result of pension reforms, 1 million fewer people will be facing inadequate retirement incomes, and 73% of those facing inadequate retirement incomes will see an improvement in their incomes, bringing them closer to their target income.
There are a number of actions individuals can take to improve their future retirement incomes. These include:
- having a full working history
- saving whilst in work
- saving more
The right level of saving for an individual will depend on their particular circumstances but this document can help people understand the options.
For enquiries about these statistics, please contact: Jane Ball