Adequacy begins at SPa

As the UK faces growing pressure to ensure people can retire with confidence, we believe the state pension age (SPa) is the most meaningful point to assess whether individuals are on track for an adequate retirement income.

In this publication, we explore:

• why SPa is the most practical and consistent benchmark for adequacy
• how this approach can support better policy decisions and clearer communications
• what adequacy looks like in practice, and how it varies across different groups

We also share our recommendations for how government, regulators and the pensions industry can work together to improve outcomes for savers.

If you’d like to discuss any of the ideas this paper explores, please contact a member of the Policy Team, or get in touch here.