Household financial decision making: Qualitative research with couples

Implications of the research findings for automatic enrolment
The research highlighted couples’ passivity around pensions and retirement decisions, and 
suggested it was unlikely that they would increase their engagement as a result of being 
automatically enrolled in a workplace scheme. There were indications that people would simply 
remain in employer schemes after being enrolled automatically, and this included even those 
couples who voiced scepticism about pension products.
There was little evidence to suggest that automatic enrolment might encourage people to increase 
their contribution levels. 

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5
Introduction
1 Introduction
This report gives the findings from a qualitative research study exploring the way that couples go 
about financial decision making. This chapter provides context for the research and describes the 
methodology used.
Views and behaviours regarding financial planning, and retirement planning specifically, are 
complex; there are many factors that can play a role in determining couples’ decision making in 
relation to retirement planning, such as gender, age, significant life events – ‘milestones’ in adult
life, such as becoming a homeowner or a parent – and family upbringing, to name a few.
Building on existing evidence about retirement planning and saving, this study seeks to better 
understand how retirement decisions are made within households, any factors that influence
these decisions; and, finally how the process might be affected by automatic enrolment. The 
research findings will inform discussions on how best to encourage retirement planning and
saving among couples.
1.1 
Background
The existing knowledge base for retirement-related decision making suggests that a number of 
factors influence both decision-making dynamics within households, and the types of decisions made. 
Several publications suggest that a gender split exists in financial decision making. For example, 
a DWP Working Paper on individuals’ attitudes and behaviours regarding retirement saving and 
planning suggests that many women are in control of short-term financial planning and rely on their