A simpler State Pension: A qualitative study to explore one option for State Pension reform
Demographic changes in the UK mean that life expectancy is increasing and the ratio of people eligible to claim the State Pension relative to the working population is rising. At the same time there has been a long-term decline in the level of private saving for later life.
In response, the Government decided to introduce automatic enrolment, whereby eligible workers will be automatically placed into workplace pensions with an employer contribution unless they decide to opt out. To run alongside this initiative, the Government announced its intention to reform the State Pension so that it provides a foundation of support whilst encouraging people to take greater personal responsibility for planning and saving for later life.