The Pension Confidence Index 

A quarterly measure of the mood of the nation when it comes to their retirement outlook.

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How do we all feel about retirement? Whether at retirement age or nowhere near it yet, this index tracks sentiment around long-term finance and the reasons behind it.

Latest headline findings:

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Brits feel more positive than negative about their retirement outlook, with a Pension Confidence Indicator of +22 in March 2024.

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Positive pension sentiment grew even further among over 55s, in the three months from December 2023 to March 2024

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The State Pension remains a key factor behind whether people, of all ages, feel good or bad about their future.

18 - 24
years old
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54%

Feel positive about their pension

51%

Feel the same about their pension outlook as last year

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Top reason for positive sentiment: “My personal contributions are relatively good” (40%)

40%

Plan to increase contributions as top pension priority

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Top reason for negative sentiment: "I think my pension pot is small" (26%)

25 - 34
years old
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46%

Feel negative about their pension

44%

Feel the same about their pension outlook as last year

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Top reason for positive sentiment: “My employer contributions are relatively good" (48%)

38%

Plan to increase contributions as top pension priority 

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Top reason for negative sentiment: “I think my pension pot is small” (34%)

35 - 44
years old
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44%

Feel negative about their pension

50%

Feel the same about their pension outlook as last year

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Top reason for positive sentiment: "My employer contributions are relatively good" (43%)

34%

Plan to increase contributions as top pension priority 

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Top reason for negative sentiment: "I can't afford to contribute enough" (37%)

45 - 54
years old
Illustration of 45-55 year old man
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47%

Feel negative about their pension

56%

Feel the same about their pension outlook as last year

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Top reason for positive sentiment: “My employer contributions are relatively good" (37%)

30%

Plan to increase contributions as top pension priority

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Top reason for negative sentiment: "I can't afford to contribute enough" (38%)

55 - 64
years old
Illustration of 55-64 year old woman
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54%

Feel positive about their pension

57%

Feel the same about their pension outlook as last year

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Top reason for positive sentiment: "I'm entitled to the full State Pension" (54%)

17%

Plan to take some of their tax free-lump sum

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Top reason for negative sentiment: "I wish I had saved more for retirement" (30%)

65 +
years old
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78%

Feel positive about their pension

66%

Feel the same about pension outlook as last year

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Top reason for positive sentiment: "I'm entitled to the full State Pension" (63%)

8%

Plan to start change pension plans to reduce costs

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Top reason for negative sentiment: “None” (29%)

*Source: PensionBee, a nationally representative sample size of 2,000 people, with half of the respondents under age 55 (the age people can access their private pensions) and half over 55. 

Want to know something specific about pension sentiment in the UK? Please get in touch at [email protected] to request further regional, gender and other demographic breakdowns.

Compare against previous indexes

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