Household financial decision making: Qualitative research with couples

4.1.1 
Saving into a workplace pension
In most couples at least one partner had some kind of non-state pension provision. This was usually 
in the form of a workplace pension. There were indications that workplace pensions were seen as 
something of a ‘safety net’, in that they allowed people to feel they could relax. Once contributing 
something to a pension, there were indications that people assumed they did not need to engage 
further with retirement planning. None of those who were members of workplace schemes had 
investigated or taken out an individual personal pension independently of their workplace scheme.
‘I thought it would be better all round if I did it [joined his workplace scheme]. They gave you a 
package. A lot of people [at work] said it was a decent one.’
(Callum, 30s, North East)
In some cases, however, individuals had not felt that their workplace pension was good enough. 
For example, Jade had pulled out of a workplace pension when she became disillusioned with the 
provider, but had not yet got around to making alternative savings arrangements. 
‘It wasn’t very good and they messed around a bit, so I pulled out. They weren’t ringing me 
about stuff, and they weren’t getting back to me when I was asking them questions about it.
A few from work pulled out and I haven’t thought about it since.’
(Jade, 20s, North East)
Some individuals had been members of DB schemes, and where this was the case, alpha partners 
in particular tended to be more aware of how much they had contributed, and how much they 
expected to receive as income, than those in DC schemes. This was often the case even when 
individuals did not have a high level of financial knowledge or confidence: they were still able 
to remember the broad terms of the arrangement and, typically, what had happened to these 
schemes – even when the detail they could provide was sometimes vague. 

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