Household financial decision making: Qualitative research with couples

3.4.2 
Attitudes towards retirement planning
Typically in this group, at least one individual within the couple had a non-state pension and this 
tended to be a workplace pension. For example, Kelly was a member of an NHS scheme and her 
husband Simon a member of a well-known private sector employer’s scheme. 
For most of those with workplace pensions, the decision to join the scheme had been triggered by 
the individual’s employer. Many did not actively seek to join a pension scheme but were offered it by 
their employer. There were a couple of exceptions to this pattern. Callum’s actions in organising his 
retirement provision had been triggered by receiving a pension forecast and deciding that it was too 
low; he was not prompted by his employer as other individuals in this group were. 
‘I think there was a deal [at work] where you sign up for a pension and they match whatever 
you are putting in.’
(Kieran, 20s, North East)
Attitudes to retirement planning differed in the Organised Aspirational group compared to the other 
two groups. Organised Aspirational couples tended to voice the importance of retirement planning 
rather than rationalising their own inertia to organise provision for themselves. Couples in this group 
were impacted by inertia to the same degree as those in the others, but tended to rationalise this 
inertia less, and to express a more responsible outlook. However, despite recognising the importance 
of pension provision, those without provision had still not been motivated enough to make 
alternative retirement plans.
‘Once I do stop working, once I do stop having a regular income coming in, I need to make sure 
that myself and the family [are looked after] as much as possible.’
(Sarah, 30s, South East)
Among younger couples there was a strong sense that day-to-day life came first, and that 
irrespective of any other barriers, this was getting in the way of retirement planning. As Section 
4.1.1 will discuss, they also implied that they had already dealt with retirement planning by joining a 
workplace pension, and did not therefore need to explore it any further for the time being. 
‘We know it is going to come so we just try and put it on the back burner and ignore it. We took 
action for that to happen so I don’t feel as though I need to talk about it just yet.’
(Callum, 30s, North East)

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