Evidence type: Insight i
Qualitative research is more exploratory, and uses a range of methods like interviews, focus groups and observation to gain a deeper understanding about specific issues - such as people’s experiences, behaviours and attitudes.
Quantitative research uses statistical or numerical analysis of survey data to answer questions about how much, how many, how often or to what extent particular characteristics are seen in a population. It is often used to look at changes over time and can identify relationships between characteristics like people’s attitudes and behaviours.
The report explores the role of employers in helping workers navigate their working lives and prepare for retirement, a role that has become more salient due to the pandemic.
Medical advances mean we are living longer than ever before; at the same time the concept of a ‘job for life’ is a thing of the past. The phasing out of defined benefit retirement plans means individuals have to shoulder much more responsibility for funding their retirement than ever before and many are not fully equipped to do so.
The report is an extension of an existing report, Aegon’s global research report ‘The New Social Contract: Age-Friendly Employers’. There are no details given in this report about the survey, the Aegon Retirement Readiness Survey 2020, on which the report is based. The report also includes data from a similar survey conducted in 2018 as well as from other publications, primarily from the Office for National Statistics.
Aegon is a provider of long-term savings, investments, pension solutions and protection products.
The authors make some recommendations for employers: