How might the pension value proposition evolve?

We used our study segmentation – participants for whom retirement was attainable or unattainable – to imagine ways that the pension value proposition could improve.
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The attainable segment benefits from relative confidence in their retirement outcomes and simplicity in their related needs. For this group, changes to the pension product might focus on value-adding services and experiences that satisfy their desires for community, relevance, and impact.  
 
Both segments experience the tensions inherent in prioritizing retirement saving over the importance of current needs and struggle with perceiving retirement as boring and depressing – implying both would benefit from opportunities to enhance product flexibility and redefine the expected retirement experience.
 
The unattainable segment is particularly challenged by retirement as invisible and complicated and confusing and tends to have complex related needs in thematic areas like family, health, and housing. This group could benefit meaningfully from the tailoring of existing services or the addition of new services to meet their needs.
You can learn more about these ideas in the full report.