Addressing the inadequacy of retirement provision has arguably become the
biggest socio-economic challenge facing the UK, as the aspiration to generate a
good financial outcome to and through retirement typically fails to meet the
reality by some margin.
However, moving from a position of inadequate to good retirement outcomes is
stymied by a number of structural and deeply engrained behavioural impediments
to informed decision making, many of which can be addressed by applying
relatively simple behavioural insights and interventions.
Three behaviourally-focused thought papers consider the cognitive barriers
to inaction and poor decision making and how they can be overcome, if
policymakers and the pensions industry are to help people better help
themselves pre, at and in retirement.
- Paper One: Is your default fund fit for purpose? Are we setting
retirees up for failure by default?
Addressing impediments to good investment decision-making and the role of
fit-for- purpose default funds
- Paper Two: Mind the gap: Overcoming the cognitive barriers to
saving for retirement
How behavioural insights and interventions can improve savings levels and
- Paper Three: Committed, Disengaged, Suspicious or Falsely Secure:
What type of pension saver are you?
Four types of pension saver and the solutions needed for each to achieve
better retirement outcomes
The three papers are available for download at the links below.
Chris Wagstaff is Head of Pensions and Investment Education, Columbia Threadneedle, and Senior Visiting
Fellow, Finance Faculty, Cass Business School.