Archie Pritchett, an analyst at PensionPay, highlights a ‘delivery gap’ as the pensions industry focuses on ‘plumbing’ rather than the end products for consumers.
Over the last six months, the pensions sector has been busy. Dashboards have moved forward, and sustainability rules have become more demanding. These developments matter, and they will support better decisions in the long run.
The difficulty is that most savers would struggle to identify any practical difference. For a typical member, the experience of engaging with their pension today is almost identical to what it was in mid-2025. Progress is happening in places where people never interact, while the parts that shape confidence remain untouched.
This widening “delivery gap” – progress in the plumbing without progress in the product – is now the defining challenge for 2026.
From theory to practice
Visibility illustrates this problem clearly. The technical work behind the pensions dashboard has accelerated, with more than 60 million records now connected or in testing, while pension schemes and providers are working towards the October 2026 mandatory connection date.
On paper, this is one of the strongest periods of momentum the programme has seen – yet savers still cannot open a single interface and view all their pots, contributions, and charges together. The infrastructure is moving, but the outcome it was supposed to enable remains theoretical.
If providers follow through this year, most defined contribution savers should be able to see the full picture of their retirement savings within a couple of minutes of logging in. A simple consolidation of information would remove a significant barrier to understanding. It is both achievable and overdue.
Consumer understanding is another area where activity has not yet translated into impact. The industry continues to invest in communication but rarely measures comprehension. The gap between what people think they know and what they can accurately explain persists.
“A small set of consistent questions, published annually, would allow providers to compare performance and give the public a clearer view of whether communication reforms are working.”
Archie Pritchett, PensionPay
Nest Insight’s plain-language trials offer promising evidence of improvement when information is simplified, and the Money and Pensions Service has started incorporating tested comprehension into its pilots. Separately, the Financial Conduct Authority’s Consumer Duty initiative has raised expectations around clarity of communication.
These are positive signals, but what is still missing is a standard measure of understanding that providers commit to improving over time. A small set of consistent questions, published annually, would allow pension schemes and providers to compare performance and give the public a clearer view of whether communication reforms are working. Without that, the sector risks repeating initiatives that generate activity but produce little change in consumer confidence.
Affordability and adequacy
Affordability sits behind much of the behaviour the industry struggles to influence. Analysis from the Department for Work and Pensions (DWP) and the Pensions Policy Institute confirms that large numbers of younger and lower-income workers are not on track for adequate retirement incomes even if they remain in the system for decades. The combination of volatile earnings and higher living costs means many savers cannot increase contributions, even when they want to.
Several organisations have been testing alternatives, including round-up contributions, split-save options, and affordability-based nudges. These have shown encouraging results in controlled settings, particularly when they align with how people already manage their day-to-day finances.
The main barrier these initiatives face is scale. Unless these tools become widely available, their impact will be limited. If rolled out more broadly, they could support a meaningful increase in voluntary top-ups among younger savers. Behavioural design has the potential to achieve what traditional contribution messaging rarely does: translate good intentions into practical saving habits.
Adequacy and outcomes are better understood than they were a year ago. Recent analysis from the DWP provides a clearer view of who is on track and who is not.
Following the relaunch of Pensions Commission last year, many in the industry have been explicit about the need for higher contributions, suggesting levels of 10% to 12% may be required for many workers.
“In 2026, progress must become proof. The system will only regain confidence when people can finally see it working.”
Archie Pritchett, PensionPay
Modelling, insight and diagnosis have all improved, but what has not changed is the (in)visibility of outcomes for the public. Savers still have no straightforward way to understand whether they are heading towards a reasonable replacement rate. Providers typically report on assets, performance or participation, but not on whether members are accumulating enough.
A national adequacy benchmark would correct this and allow the sector to track progress consistently. Provider-level outcomes dashboards would make the system more transparent and reduce the gap between what schemes report internally and what members see externally.
Across all these areas, the pattern is consistent. Technical work has advanced. Policy thinking has matured. The sector has the building blocks for a better system.
What it has not done is convert that foundation into a better experience. In 2026, progress must become proof. The system will only regain confidence when people can finally see it working.
Archie Pritchett is an operations analyst at PensionPay.
