The UK government has announced the revival of the landmark Pensions Commission, with Professor Nick Pearce (Director of the University of Bath’s Institute for Policy Research) as one of its three members.

The Commission has been reinstated in response to new analysis that shows those retiring in 20 years’ time are currently set to have lower pension incomes than those retiring now. Retirees in 2050 are on course for an average private pension income £800/year less than those retiring today (an 8% fall), and nearly 15 million people aren’t saving enough for retirement. Almost half of working-age adults are saving nothing at all into a pension, with low earners, some ethnic minorities and the self-employed particularly at risk.

Alongside Prof Pearce, the Pension Commission is made up of Baroness Jeannie Drake (a member of the original Commission) and Sir Ian Cheshire. They will explore the complex barriers stopping people from saving enough for retirement, examining the pension system and considering what is required to build a future-proof pensions system. The Commission will work closely with stakeholders such as the Confederation of British Industry and the Trades Union Congress, and the final report will be delivered in 2027.

On his appointment Prof Pearce said: "I am delighted to join the new Pensions Commission. As the government has announced today, the Commission will examine the pension system as a whole and look at what is required to ensure that it is strong, fair and sustainable for the future. I will be able to bring to the Commission’s work much of the important research we have done in IPR and the Department of Social and Policy Sciences at the University of Bath on pensions policy issues. I am looking forward to getting started."

Prof Pearce became Head of Policy and Director of the Institute for Policy Research in 2015 after previously being Director of the Institute for Public Policy Research between 2010 and 2015 and 2003 and 2007. He served as Head of Policy in the Prime Minister’s Office in No 10 Downing Street between 2008 and 2010, as well as Head of Strategic Policy and Senior Advisor on Children, Schools and Families; Skills and Universities in the No 10 Policy Unit between 2007 and 2008. Prior to this, he served as Special Advisor to the David Blunkett MP while Mr Blunkett was Home Secretary between 2001 and 2003 and Secretary of State for Education and Employment between 1999 and 2001.