It’s 20 years since the Turner Commission’s independent review of the state pension held public consultations to understand the public’s view of the state pension and potential reforms to it. Since then, the country has undergone major political, social and economic shifts that have significantly impacted the equity, sustainability and affordability of the state pension and left its future status uncertain. In such a rapidly changing context, it is vital to understand the public’s attitudes and opinions on how the state pension should look going forward given the scheme will play such a significant role in their lives.

It is for this reason the Policy Institute at King’s College London was commissioned by Phoenix Insights to conduct a deliberative study exploring how the state pension can be made fit for the 21st century. This research was designed to complement the government’s wider review of the state pension age, published in March 2023. In order to unpick the key issues, this research study explored the following questions with members of the public and relevant stakeholders:

• What is the purpose of the state pension?
• How fair is the state pension? Who does it benefit? Who loses out?
• What are the challenges facing the state pension?
• Mindful of these challenges, how must the state pension evolve? What are the options for reform? To what extent are these reforms fair, and are the reforms future-proofed?
• What is the role of the citizen, the state and the employer when it comes to preparing financially for retirement? What are their rights and responsibilities?