Marvin OnumonuPhoenix Group’s think-tank has rebranded as the Standard Life Centre for the Future of Retirement, aiming to help more people achieve long-term financial security.
Phoenix Insights has focused on big issues like pensions adequacy and economic inactivity, especially as more people live longer.
The new focus will be on how society can achieve financial security for all in later life.
The centre aims to use research to spark debate, drive action, and push for change so people can secure a decent standard of living after they stop working.
The rebrand comes as Standard Life marks 200 years of helping UK savers reach their financial goals.
Catherine Foot, director of the Standard Life Centre for the Future of Retirement, said: “How we work, save, and retire is changing.
“That traditional idea of spending decades in full-time employment and then retiring with a comfortable, guaranteed income is no longer going to be a reality for most people.
“There is an under-saving crisis in the UK, and if we don’t act now, we risk millions reaching retirement unable to afford the standard of living they expect.”
Foot added: “I’m incredibly proud of what we have achieved under Phoenix Insights, and working under the Standard Life brand will supercharge our ability to further raise awareness of these issues and campaign for change.
“This is particularly important at present following the government’s expected review of retirement adequacy which provides a critical opportunity to reshape our pensions system to better address some of the challenges future retirees are facing.”
The centre plans to campaign for future generations to have access to affordable private pension saving, support for making good decisions about pension saving and retirement income, quality and flexible jobs, and protection from poverty with state support.
Andy Briggs, chief executive at Phoenix Group, said: “Standard Life has sought to act as a force for good and to champion the needs of everyday people for over two hundred years.
“And as the engine behind Phoenix’s Group’s 12 million customers, it is in prime position to speak about the challenges everyone faces when it comes to how we work, save and plan for retirement.
“The addition of the pioneering think tank is both a celebration of the milestone and a statement of intent about the brand’s ongoing desire to act as a source of innovation and practical support to customers and society alike.”
