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If 2025 has proved anything, it’s that the UK pensions landscape is altering. From regulatory developments to how people are reshaping their pension and personal finance expectations, we look at what’s changed and what it could mean for members.
Did people’s financial priorities shift in 2025?
To find out, it’s worth examining some of the detailed research we carried out over the course of the year. First, employee financial wellbeing is firmly on the employer agenda: our latest employer survey shows it’s the top priority for 68% of organisations this year – a clear sign of growing concern.
That focus reflects the reality many people face as they try to navigate continued economic uncertainty and the cost of living crisis. Our Retirement Voice 2025 findings show that:
- 71% have become more cautious with their finances
- Only 45% feel positive about their current situation
- 63% worry about energy costs
And while short-term pressures dominate, responsible investing remains important to many. Our Responsible Investing Viewpoint 2025 report reveals that while financial returns and risk management are the leading considerations, people also want their money to avoid harm and make a positive difference. The report also showed that most people want their pension provider to take care of responsible investing on their behalf, highlighting a strong desire for trust in how their money is managed.
These shifting priorities come at a time when the pensions system itself is undergoing major changes.
How the UK pensions world evolved this year
2025 was a year of significant movement in pensions policy and regulation. There’s been plenty happening – from the introduction of the Pension Schemes Bill to renewed momentum on the pensions dashboard rollout. Add to that the revival of the Pension Commission and changes to the state pension, and it’s clear the focus is on greater transparency, accessibility, and long-term sustainability.
The Pension Schemes Bill, which was introduced in June 2025, could amount to the biggest pensions reform in a generation. For employers, it means tighter governance requirements, new value-for-money tests for defined contribution schemes, and automatic consolidation of small pots – all aimed at improving outcomes and reducing fragmentation. It also introduces new flexibilities around retirement and decumulation, giving members more choice in how they access their savings. Tools like the Standard Life’s Mixed Income Builder can help members plan for these options and check if they’re on track to meet essential living costs.
After years in the making, the pensions dashboard finally started to take shape in 2025, with key technical steps completed and testing well underway. It’s aim is to give people one secure place to see all their pension pots – making it much easier to keep track and plan for the future.
The Pension Commission also returned to the spotlight this year, putting long-term reform back on the agenda. Its job is to look at whether the UK pension system is fit for the future, with early conversations around contribution levels, auto-enrolment thresholds, and how to strike the right balance between flexibility and security for savers.
Changes to the state pension made waves this year, too, with tweaks to eligibility and how payments are adjusted over time. The aim is to keep the system fair and sustainable, but for pension savers, it’s a reminder to check how state benefits fit into their wider retirement plans.
So, with priorities shifting and big changes reshaping the pensions landscape, the question is: how can we help your clients and their members navigate what’s next?
Supporting financial wellbeing and future confidence
At Standard Life, we know that financial wellbeing isn’t just about managing today’s challenges – it’s about helping people feel confident about their future. There are practical ways to make a difference, and it often starts with the basics: clear, accessible guidance and tools that make pensions and investing easier to understand. We have Good Money webinars on a variety of themes that can help members get to grips with their finances.
Employers can play a big role too. Simple steps – like signposting trusted information, encouraging regular pension reviews, and promoting responsible investing – can help members feel more in control. If you’re looking for ideas to inspire your clients, our article on five practical financial wellbeing tips is a great place to start.
You could also suggest resources like the Pensions UK’s Retirement Living Standards. This outlines how much members would need each year to fund a minimum, moderate, and comfortable lifestyle in retirement.
And as we mentioned earlier, members can use our Mixed Income Builder tool. This helps them assess whether they’re on track to meet the minimum income needed each year to cover their essential living costs, based on Pensions UK’s Retirement Living Standards.
With big industry changes on the horizon, staying informed matters more than ever: building financial confidence is key to helping members navigate change with clarity.
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Phoenix Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.