Phoenix Group’s think tank, Phoenix Insights, has rebranded to Standard Life Centre for the Future of Retirement as part of its ambition to help people achieve long-term financial security.

The Standard Life Centre for the Future of Retirement will launch its first report under the new brand in June, examining the impact of the government’s industrial strategy on various sectors of the UK workforce.

Additionally, the think tank will also explore in July the potential impact of the Financial Conduct Authority’s (FCA) proposed introduction of Targeted Support for savers aged over 45.

Over the coming months, the Standard Life Centre for the Future of Retirement will continue to be a regular commentator on issues that impact people’s financial futures.

This change follows speculation last month about a potential name change following the Phoenix Group's annual general meeting on 13 May, which saw the introduction of proposals for new articles of association, which included a clause to “allow the board of directors to adopt a new company name without requiring a shareholder resolution” were adopted.

With more than half of all defined contribution (DC) pension savers retiring between 2025 and 2060 expected to be either not saving enough for their expected retirement, or on track for an inadequate retirement, the think tank’s focus will shift to how society can achieve financial security for all in later life.

The Standard Life Centre for the Future of Retirement will use research to encourage debate, drive meaningful action, and influence change – helping people secure their financial future and enjoy a decent standard of living in later life.

Since its inception in 2021, Phoenix Insights has driven action in response to some of the biggest challenges of people living longer.

This has included influencing policy makers’ thinking on pensions adequacy and economic inactivity and building new partnerships to promoting the importance of good work and the untapped potential of workers in their 50s and 60s.

Commenting on the rebrand, Standard Life Centre for the Future for Retirement director, Catherine Foot, said: “How we work, save, and retire is changing. That traditional idea of spending decades in full-time employment and then retiring with a comfortable, guaranteed income is no longer going to be a reality for most people.

“There is an under-saving crisis in the UK, and if we don’t act now, we risk millions reaching retirement unable to afford the standard of living they expect.”

Foot said she is “incredibly proud” of what it has achieved under Phoenix Insights, and working under the Standard Life brand will “supercharge” its ability to further raise awareness of these issues and campaign for change.

She added that this was particularly important at present following the government’s expected phase two of the pension review of retirement adequacy, which she said “provides a critical opportunity to reshape our pensions system to better address some the challenges future retirees are facing”.

The Standard Life Centre for the Future of Retirement will campaign for future generations of retirees to be included in sufficient and affordable private pension saving, be supported to make good decisions throughout life about their pension saving and retirement income ​and be able to work in good quality, flexible jobs that suit their lives, and able to actively manage their careers​.

In addition to this, the Centre will advocate for protecting retirees from poverty through an adequate and sustainable state pension and benefits system.

Phoenix Group CEO, Andy Briggs, said: “Standard Life has sought to act as a force for good and to champion the needs of everyday people for over two hundred years.

“And as the engine behind Phoenix’s Group’s 12 million customers, it is in prime position to speak about the challenges everyone faces when it comes to how we work, save and plan for retirement.”

He emphasised that the addition of the “pioneering” think tank is both a “celebration of the milestone and a statement of intent” about the brand’s ongoing desire to act as a source of innovation and practical support to customers and society alike.

The change also coincides with Standard Life’s 200th anniversary.

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