On 21 July 2025, the Government revived its Pensions Commission to examine why tomorrow’s pensioners are on track to be poorer than today’s and make recommendations for change.
In response, Ruth Handcock, CEO at Octopus Money, said: “Our current pensions are broken, and the numbers prove it. There’s been a huge generational shift in responsibility for retirement planning, moving from employers to individuals without the support needed to make that work. For example, my mum had a modest salary as a primary school teacher, but thanks to her Defined Benefit pension, she could retire comfortably. Today, only 12% of people have access to that kind of certainty.
I want to remind decision makers that financial education and personalised planning must be at the heart of any solution. Without a clear plan, most people are left hoping they’ll have enough. At Octopus Money, we’ve seen the transformative power of planning firsthand: 89% of people using our coaching service feel more financially resilient, and a quarter increase their pension contributions, retiring almost £300,000 better off.
This Commission is a chance to finally take a joined-up approach to fixing the pensions gap. It’s going to take government action, employer involvement, and bold reform. If we get it right, we can turn this from a slow, uncertain decline into a future where everyone can look forward to retirement.”
At Octopus Money, we’re building the future of financial advice – helping more people get the support they need to plan for the life they want.
We’re a new kind of advice business – combining the best of humanity, smart technology and investment expertise. Anyone can get started directly through our website – and we work with some of the UK’s leading employers to give over 200,000 employees access to 1-to-1, personalised help through the workplace.
We also license our award-winning methodology, training and technology to financial services brands – helping them deliver holistic, regulated financial advice to more customers, at a lower cost than ever before.
Part of the Octopus Group and a certified B Corp, Octopus Money is committed to doing the right thing for customers, advisers and the future we all share.