Phoenix Group establishes a new centre of research to drive forward greater public engagement and help people live better longer lives
Phoenix Group (“Phoenix”), the UK’s largest long term savings and retirement business, is today announcing it is establishing Phoenix Insights, a new centre of research and ideas that will drive forward greater public engagement and challenge society to help everyone live better longer lives.
Phoenix recognises that to realise the potential of longer lives, there is a real need to start thinking and acting differently, to challenge the out of date assumptions that many of the structures of today’s society are built on. With a clear focus on realising that potential, Phoenix Insights will be considering areas such as longer working lives, financial security, lifelong learning and skills, healthy active lives, care and support, and how our homes can support longer lives.
Catherine Foot, a research and policy expert in ageing and longevity, has been appointed to lead Phoenix Insights. She will be supported by an advisory committee, chaired by Phoenix Group CEO Andy Briggs and comprising Lord Victor Adebowale, Baroness Camilla Cavendish, Professor Lynda Gratton, Professor Sarah Harper CBE, Baroness Ruby McGregor-Smith CBE, Amber Rudd and Claire Hawkins.
Phoenix Insights will be a cornerstone in Phoenix Group’s commitment to delivering on its purpose, to help people secure a life of possibilities. The research centre will use high impact research to drive forward ideas and greater public engagement with the implications of living longer lives, seeking to both inform, debate and to catalyse new action across society, not just from government or industry or civil society, but from everyone.
Commenting, Group CEO, Andy Briggs said: “We are delighted to be establishing Phoenix Insights, and to welcome Catherine Foot as its Director. We see improved longevity as a huge opportunity for many more people to have a long life that is full of possibilities, but we also recognise an ageing population poses some profound challenges for our society. If we don’t all work together to consider these challenges and adapt, the gulf between the advantaged and the disadvantaged will only continue to grow. Through Phoenix Insights, we hope to help lead the debate and drive forward the thinking and necessary changes that will enable us all to take action and to live better longer lives.”
The findings and recommendations of Phoenix Insights will also inform the action Phoenix Group will be taking to help people live better longer lives, whether that be in how Phoenix supports its 14 million customers in their journey to and through retirement, how it supports its 7,000 colleagues, or how it invests its circa £300 billion of assets under administration for a more sustainable future that supports longer lives. Phoenix Insights expects to start sharing insights and recommendations in the next six months.
The latest figures from the Office for National Statistics show that the number of older people in the population has continued to increase; in mid-2020 there were 12.5 million people aged 65 years and over in the UK, compared with 10.3 million a decade earlier. The figures also show that 0.9% of the UK population is aged 90 or over, compared to 0.7% a decade ago.
Director of Phoenix Insights, Catherine Foot added: “Life expectancy in the UK has risen dramatically over the past century, but we are not yet structuring our society and our lives to make the most of that incredible achievement. I am thrilled to have the opportunity, through Phoenix Insights, to inspire people across the UK to reimagine how we work, save, learn and live, so that we can truly make the most of longer lives.”