In February this year, auto enrolment’s staging period came to an end. Thanks to the initiative, around 10 million people are now newly saving, or saving more, for their retirement. The UK’s participation rate in second pillar retirement saving is the highest it’s ever been, and it’s also now one of the highest among voluntary systems the world over.
Auto enrolment is an intervention built on insights. It’s one of the largest public policy implementations of ‘Nudge’ in the UK or beyond. It’s created an incredible platform on which we can build, and from which to identify and address the next set of challenges – focusing narrowly on pension policy or exploring more broadly how pension saving sits within the wider financial lives of workers.
This year’s NEST Insight conference explored the future challenges for the pensions industry and identified solutions that could be tested to move us towards the next wave of insight-led interventions to improve retirement income adequacy for the defined contribution (DC) generation.
The NEST Insight conference brought together academics, policy makers and pension experts:
- Shlomo Benartzi, UCLA Anderson School of Management (USA)
- Matthew Blakstad, NEST Insight (UK)
- Charlotte Clark, the Department for Work and Pensions (UK)
- Jeremy Cooper, Challenger Limited (AUS)
- Conor D’Arcy, Resolution Foundation (UK)
- Baroness Jeannie Drake (UK)
- Anne Lester, J.P. Morgan Asset Management (USA)
- Polly Mackenzie, Demos (UK)
- Anandi Manu, University of Oxford (UK)
- David Mitchell, the Aspen Institute (USA)
- Will Sandbrook, NEST Insight (UK)
- Avni Shah, Rotman School of Management (Canada)
- Steve Utkus, Vanguard (USA)