Hitting the target

Hitting the target: delivering better retirement outcomes

The Hitting the Target project was set up by the PLSA in February 2017. The purpose is to assess the success of current UK policy and practices with regard to helping everyone achieve adequate outcomes in retirement, taking account of the range of assets which might be used to finance retirement, and to make proposals on how policy and practices should be changed in order to improve outcomes.

Consultation paper

The central proposal of this initial Consultation Paper, published on 10th October 2017, is that the UK should develop a set of ‘national retirement income targets’ which would help stimulate public debate on adequacy, help individuals plan for retirement, and act as a guide to public policy. The paper invites comments on the best way to construct such targets and includes research which indicates that the adoption of targets would be welcomed by the public.

The remainder of the paper sets out current, or new, PLSA proposals in areas that are key to enabling people to achieving better retirement outcomes. These cover pension contributions, property, working longer, governance, decumulation and engagement.