Saving for retirement is for most a complex and inaccessible topic, which is perhaps why many people switch off rather than engage with it head-on.

Failing to engage with pension saving could be critical. At £155.65 a week, the full state pension is unlikely to provide everyone with the income they desire through retirement; while many people who do start a pension fail to contribute enough or are invested in unsuitable assets.


We have identified the four archetypical pension personas that are most at risk of failing to generate a good retirement outcome: the Committed, the Disengaged, the Suspicious, and the False Security Brigade. If you can relate to one of these personas, the chances are your future prosperity is at threat from the risks identified for each type.

Understanding which of these personas people identify with will help savers make the decisions that could lead to meaningful change in their financial habits and give them a much better chance of achieving a good retirement outcome.

The four types of pension saver (or non-saver)

The Committed: You understand that you need to put money aside for your retirement and you are committed to doing so. But are you squirreling enough away and are your pension savings working as hard as they should?

The Disengaged: You find the subject of money and investing something of a turn-off and disengage whenever the issues are raised. The future is a long way off so you’ll worry about your retirement when it gets a bit closer. Indeed, the possibility of living frugally in retirement hasn’t occurred to you at all.

The Suspicious: You have read so much about banking and investment scandals that you do not trust anyone who says they can help you grow your money. You’re not going to be taken for a ride, so you keep your money somewhere where you believe it’s ‘safe’.

The False Security Brigade: You are contributing to a pension, perhaps through auto-enrolment, and are perfectly content with your retirement planning. But you and your employer are only contributing the bare minimum and you are investing in your pension scheme’s default fund. So is everything as rosy as it first appears?

To download the full whitepaper and learn what schemes can do to help each type of member - click here.