Pensions - Articles - Poll reveals reveals industry views on retirement solutions

For decades, DC investment strategies have followed a relatively straightforward model - gradually reducing investment risk as members approach retirement, before converting pension savings into an annuity. However, this model no longer reflects the realities of modern retirement.

 

With the Pension Schemes Act 2026 and the development of guided retirement solutions, schemes face the challenge of rethinking default investment pathways to support members not just up to retirement, but throughout it.

 

Polling at this SPP event, attended by around 200 pension professionals, explored two key questions: which retirement solutions are expected to become most popular over the next ten years, and which components are most important in delivering better outcomes for members.

 

On the future of retirement solutions, attendees were asked, “What retirement solutions will be most popular in 10 years’ time?”

 

Nearly half of respondents chose flex then fix (49%), followed by identical numbers choosing income drawdown (21%) or Retirement CDC (21%). In contrast, only 3% chose Annuity and 6% chose the “something else” option.

 

When asked what matters most in delivering better member outcomes, attendees were asked, “What is the most important component of a retirement solution to enable better pension scheme member outcomes?”. Respondents were evenly split, with around a third of respondents choosing each option:

 

 

Dilara Uyduran, Chartered Financial Planner at Hymans Robertson Personal Wealth, who chaired the event, said: “The SPP industry polling results highlight how retirement thinking is evolving. The popularity of flex then fix reflects a growing appetite for solutions that balance flexibility with greater security throughout retirement. However, the responses also show that better member outcomes cannot be delivered through investment strategies alone. We need to bring together effective investment and income solutions, accessible expert support and holistic retirement planning to help members make informed decisions and achieve financial security throughout their retirement.”