A perfect storm: challenges for the defined contribution (DC) generation

Saving for retirement doesn’t happen in isolation from peoples’ everyday lives, or their other financial goals and challenges. Some savers have debts, some have housing issues. Others are worried about whether they’re in a job that’s going to last more than six months, or thinking about how they’re going to look after their elderly parents.

When planning for later life, there are also many unknowns. If we think about someone just starting their working life, how much do they really know about their lifetime income? Will they be rich, will they be poor, or just comfortable? Do they have, or will they gain, the skills and knowledge, access to products and services, and the mindset to be financially capable?

A range of external factors will also impact them. In years to come, what effect will our ageing population have on the way society operates? What will the world of work be like? Will they be able to get on the property ladder? How will family structures have changed and what impact will that have on risk sharing?

The DC generation faces all of these challenges. In the first of our NEST Insight 2017 conference videos our panellists set the scene for the day, discussing these issues and the challenge of planning for an uncertain future.

Chair: Otto Thoresen, NEST Corporation


  • Professor James Banks, University of Manchester and Institute for Fiscal Studies
  • Laura Gardiner, Resolution Foundation
  • Caroline Rookes, outgoing chief executive officer of the Money Advice Service.