Standard Life has relaunched Phoenix Group’s research think tank under its own name.

The Phoenix Insights think tank, established in 2021, will now operate as the Standard Life Centre for the Future of Retirement. The move aligns with Standard Life’s bicentenary and underscores its ambition to address what it describes as an “under-saving crisis” affecting millions approaching retirement.

Since its foundation, the think tank has helped shape policy debates around pensions adequacy and economic inactivity, and has highlighted the often-overlooked potential of workers in their 50s and 60s. It now turns its attention to helping ensure future generations can retire with sufficient financial resources, a mission that is becoming increasingly urgent.

Catherine Foot, director of the newly named centre, 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. I’m incredibly proud of what we have achieved under Phoenix Insights, and working under the Standard Life brand will supercharge our ability to further raise awareness of these issues and campaign for change.

“This is particularly important at present following the government’s expected review of retirement adequacy which provides a critical opportunity to reshape our pensions system to better address some of the challenges future retirees are facing.”

According to the think tank, more than half of all defined contribution pension savers retiring between 2025 and 2060 are projected to either fall short of the income they expect or face inadequate retirement outcomes.

The rebranded centre will focus on four key areas: widening access to affordable pension saving, improving decision-making throughout individuals’ working lives, promoting flexible and fulfilling work in later life, and ensuring the State Pension and benefits system remain robust and sustainable.

Phoenix Group chief executive Andy Briggs said the move reflects both Standard Life’s long heritage and its ongoing role in supporting its 12 million customers.

“Standard Life has sought to act as a force for good and to champion the needs of everyday people for over two hundred years,” he said. “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 source of innovation and practical support to customers and society alike.”

The think tank will continue to contribute to public debate on financial wellbeing and retirement preparedness. Its first report under the Standard Life brand will be published this month, exploring how the government’s industrial strategy may affect different parts of the UK workforce. A further report in July will examine the Financial Conduct Authority’s proposed Targeted Support programme for savers aged over 45.