PensionBee has warned that millions of workers are in danger of accepting a poorer retirement because they have stopped believing a comfortable life after work is within their reach. According to the online pension provider, too many people cannot picture themselves enjoying retirement, which leaves them less motivated to save and more inclined to put off planning for later life.
The warning comes as millions face growing pressure over retirement savings. Rising living costs, longer life expectancy and uncertainty over pension incomes are forcing many people to reconsider when – or whether – they can afford to stop working.
Retirement ambitions revealed
Research commissioned by PensionBee shows that travel and hobbies are the biggest retirement ambitions, with 64% of people hoping to spend more time on both. Nearly half (49%) want to spend more time with friends and family, while 47% hope to enjoy more sport and fitness.
Born to Retire campaign
These findings prompted PensionBee to launch a new campaign, Born to Retire, designed to encourage workers to think more positively about later life and start planning sooner. The campaign shifts the focus away from financial worries and highlights the opportunities retirement could bring – from touring Britain in a campervan and taking up new hobbies to spending more time with loved ones.
Jasper Martens, Chief Marketing Officer at PensionBee, said too many people simply assumed a fulfilling retirement was beyond their reach.
He said: "Everyone deserves a retirement they can look forward to. But too often, people don't see themselves in that picture. They assume a great retirement is for somebody else – somebody richer, luckier or somehow better prepared.
"We wanted to challenge that thinking. Retirement shouldn't be something people avoid imagining because it feels out of reach. It should be a future worth getting excited about. Building financial security isn't the end goal, it's what gives you the freedom to become more of who you are. Born to Retire is about joy and helping people picture that future with optimism. Because when you believe retirement is really for you, planning for it stops feeling like an obligation and starts feeling like an investment in the life you want to live."
Campaign details
The campaign, created with creative agency Wildish & Co, will run across television, radio, digital and outdoor advertising. It features younger people catching a glimpse of their future retirement before fast-forwarding to their older selves embracing life, with oversized visual scenes inspired by real retirement aspirations uncovered in consumer research.
Retirement planning pressure
The launch comes at a time when retirement planning is becoming increasingly important for millions of Brits. Experts regularly warn that relying solely on the State Pension is unlikely to provide the lifestyle many people expect in retirement, making workplace pensions and private savings an increasingly vital source of income.
About PensionBee
PensionBee, founded in 2014, manages around £8.6 billion of pension assets on behalf of approximately 325,000 customers. The company allows customers to combine multiple pension pots into a single online account managed through its app.
