Building a democratic mandate for pensions reform.
The relaunch of the Pensions Commission creates a "once-in-a-generation window" to renew the UK’s pension settlement. However, reaching solutions will require more than expertise and data modelling alone; it requires values-based judgements to achieve a fair settlement across the population.
This report, produced alongside a cross-industry group, argues that because individuals increasingly bear the responsibility and risk for their retirement, any new settlement must be shaped by the citizens whose futures depend on it.
To "finish the job" of reform, policymakers must be emboldened to make difficult, nettle-grasping decisions.
Deliberative democracy provides the strengthened legitimacy and democratic mandate needed for these choices.
Using our RAPID Democracy framework, the report makes a core recommendation of:
Citizens’ Assembly on the Future of the UK Pensions System: a representative "mini-public" of 100 citizens to engage with the complexity of reform and reach a consensus on long-term principles.
Ideally supported by:
1. Public Dialogues with Defined Cohorts: targeted workshops with those disproportionately affected by the system—such as women and the self-employed—to explore specific challenges.
2. National Invitation for Public Submissions: an "open-to-all" format to broaden participation, allowing the wider public to learn about the system and submit key considerations.
Funders and contributors
Thank you to everyone who has made this scoping project possible by providing funding or expertise as part of the project Steering Group. Thanks also to the many organisations who contributed through interviews, workshops and by providing feedback at key stages.
Funders
Steering Group
The Institute and Faculty of Actuaries
Standard Life Centre for the Future of Retirement
Nest
Pensions UK
People’s Partnership, provider of People’s Pension
Nest Insight
Which?
Johnny Timpson OBE
Contributors
ABI
Age UK
Carers UK
CBI
Centre for Research in Social Policy, Loughborough University
Centre on Household Assets and Savings Management, University of Birmingham
Centre for Personal Financial Wellbeing, Aston University
Cranfield University
Department for Work and Pensions
IFS
Investors for Purpose
Local Government Pensions Scheme Advisory Board
Money and Pensions Service
Rooted Finance
Share Action
The Pensions Regulator
Trades Union Congress
Women’s Budget Group