We investigated howhouseholds make significant financial decisions and how they go about planning for retirement – both individually and collectively, on behalf of the DWP. This research will be used to underpin their strategy for nudging people into taking a more pro-active approach to pension savings.
Our report is due to be published in September. It includes a detailed insight into the decision-making process and specifically the gender and behavioural roles that are at play within it. We also outline a decision-making typology, identifying three distinct groups with defining characteristics. Our report also considers the role of behavioural economics in couples’ decision-making dynamics.