The UK DC pension market is entering a new phase with the focus moving from participation to outcomes, with pension adequacy remaining a major concern, according to the latest paper from consultancy Hymans Robertson.
The report also found that automatic enrolment has brought millions more people into pension saving, but many savers are unlikely to achieve the retirement income they expect, echoing findings from the interim report of the ongoing Pensions Commission.
Within the paper, Hymans Robertson also warned that in a rapidly changing market, employers and trustees must routinely evaluate their schemes to ensure better retirement outcomes for employees and members.
The UK DC market is shifting, with regulatory and policy developments, including the aforementioned Commission, the Value for Money framework, pensions dashboards and guided retirement reforms, increasing scrutiny of scheme design.
Hymans Robertson argued that with this in mind, investment strategy, member engagement, retirement support and financial resilience will all play a critical role in helping trustees, employers and providers deliver better, fairer and more sustainable outcomes.
Hannah English, head of DC Corporate consulting at Hymans Robertson, says: “It’s an exciting time for the UK DC pension market. We’re seeing innovative solutions from across the industry to tackle some of the most pressing challenges facing savers today.
“The conversation is now moving beyond participation alone. Employers are increasingly focused on the outcomes members achieve and whether current approaches are delivering adequate retirement incomes across a diverse workforce, and the commercial impact of their businesses if this is not the case. This is driving greater scrutiny of scheme design, contribution structures, retirement support and member engagement.”
Previous research from Hymans Robertson Personal Wealth’s 2026 Employee Financial Stress Index found that 25 per cent of employees are financially resilient, down from 32 per cent in 2025, while the proportion classed as financially vulnerable has risen from 36 per cent to 42 per cent.