Retirement Strategy Group

Help individuals and households build financial resilience for retirement in order to improve quality of life and reduce reliance on state support

Industry challenge

To help UK consumers and households achieve greater levels of financial resilience and understanding in order to enhance retirement outcomes.

Group purpose

  • To look at retirement in the round, from the consumer perspective. 
  • To discuss and formulate evidence-based consumer focused strategic retirement policy proposals, which align to TISA’s mission of improving the financial wellbeing of UK Households.
  • To help assist and steer TISA in its stakeholder engagement efforts – across Government, Parliament, Select Committees, Regulators, Industry, Consumer Bodies – to effect the necessary policy change.

Areas of focus

  • The Retirement Strategy Group has now finalised its set of strategic proposals covering pension adequacy, providing policy stability, assisting consolidation and focusing on the self-employed. The associated political wins and supporting work has been completed for inclusion in the upcoming 2024 TISA Policy Manifesto. Key stakeholders to be engaged with are being identified, with engagement being scheduled with the Labour Party and DWP.
  • TISA continues to engage with key stakeholders on the Privacy Electronic Communication Regulations (PECR) and the restrictions that these create for AE schemes looking to enhance member outcomes through communications, the DWP and DCMS have raised reservations (though the TPR and FCA were keen for the changes to be pushed through). TPR have raised this again with the Work & Pensions Select Committee.
  • TISA has discussed on a 1:1 basis with TPR and DWP their Decumulation framework proposals. This included concerns in potentially having very different journeys for FCA/DWP schemes, the likely options schemes would take, the effectiveness of such approaches, the remit of the consultation and the limitations. Also discussed briefly with FCA who acknowledged concerns and await to see how this progresses.
  • TISA continues to engage on the Lifetime Provider model having attended a roundtable including Michael Johnson and the Pensions Minister proposal. A working group TISA meeting was held, and the consultation response written and submitted. Also discussed briefly with FCA who await the DWP response.
  • Meeting held with the CBI with a view of building consensus amongst their membership base around TISA’s Retirement policy proposals including TISA attendance at the CBI’s inaugural new Pensions Panel).
  • TISA has participated in the first two DWP/TPR/FCA Value for Money Working Group workshops to define metrics for Quality of Services for the value for Money framework. A subsequent TISA meeting for members was held and a policy paper outlining a proposed framework for measuring the quality of communications has been created and submitted to DWP/TPR/FCA.
  • TISA continues to engage with Anthony Browne MP (and colleagues) on the ‘Pot for Life’ model for AE, which the Chancellor announced in his latest Autumn Statement. TISA is engaging in the establishment of a new joint Government-Industry working group that will explore the viability of the ‘Pot for Life’ proposal.

Participating member firms


Aegon UK Plc

AJ Bell

Altus Consulting

Aviva UK Insurance

Blackrock Investment Management (UK) Limited

Cushon Money Limited

Fidelity International

Hargreaves Lansdown

Interactive Investor

L & G plc

Scottish Widows Plc


the Lang Cat

Renny Biggins,
Head of Retirement leads on this work at TISA

If you are a TISA member who would like to get involved with this work, please get in touch – this group is currently at full capacity but please speak to us for more information

All TISA Groups

Retirement Publications

Retirement News