Let's figure it out

**In these times of economic uncertainty, how can we help people enjoy good retirement outcomes?**

Welcome to our Retirement Voice 2022

How confident are British people about their plans for retirement? What's important to them? For the second year running, we share the views of almost 6,000 people from all walks of life.

How the picture has changed

Since we last spoke to people about their retirement aspirations and experiences, the financial landscape has continued to deteriorate.

Most people believe that the world is a tougher place to live in today than it was just a few years ago. The economy, already in decline from Covid and the Ukraine war, continues to show few signs of recovery.

Economic downturns always hit the vulnerable, the under-served and the older generations hardest. While each group faces its own unique challenges, we found a remarkable consistency of attitudes towards risk and uncertainty – showing us that desire for stability and certainty is felt by most.

People are feeling the squeeze on their finances

Reflecting the backdrop of the increased cost of living, many are actively looking for ways to increase or supplement their income. Despite the pressure, it's encouraging to see that savings for pensions are considered like utilities, with few saying that it would be a top priority to cut.

Our research also revealed that some differences still exist. Most notably we still see a disappointingly large confidence gap between men and women, even at the younger ages.

In the UK, the number of over-50s continues to increase. Understanding how to support this growing number of people retiring is ever more important.

Let's figure it out

Our findings are already helping us understand more about how people are thinking and feeling about their retirement. It underpins what we prioritise as a brand. It helps us to innovate, with a more inclusive mindset and ultimately aim to deliver better retirement outcomes for our customers.

Sangita Chawla
Chief Marketing Officer,
Standard Life, part of Phoenix Group

Our ﬁndings show, more and more of us need support to ﬁgure out our futures.

Key findings

Through this research, we’ve captured the voices of almost 6,000 British people – spanning five generations, a variety of cultural backgrounds and a broad range of household affluence.

We’ve spoken to people who actively plan for their future; who may also take professional financial advice or guidance. We’ve also spoken with those in society who prefer not to think too far ahead – and choose to make financial decisions without expert support.

Through these pages you’ll discover rich findings about how people are feeling about their retirement, and how the cost of living crisis has impacted their plans for the future.