Part Two of the Retirement Report 2026 explores the decisions people face when turning their pension savings into retirement income. While pension freedoms have given people greater choice and flexibility, many still lack confidence in their options and access support too late. The report examines awareness, decision-making behaviours, advice and guidance needs, and the policy reforms that could help people achieve better retirement outcomes.
Retirement income decisions and support
Retirement income choices are growing more complex, highlighting the need for earlier engagement, clearer support and accessible guidance.
The retirement income conundrum
Many people approach retirement with limited understanding of their options and often seek advice too late to maximise outcomes.
Access to pensions is a matter of choice
Pension freedoms offer flexibility, but understanding retirement income options and their trade-offs remains challenging for many savers.
Policy recommendations
Targeted support, dashboards and trusted digital tools can help people make more informed retirement income decisions with confidence.
