Phoenix Group’s think tank Phoenix Insights has been renamed the Standard Life Centre for the Future of Retirement as part of the group's move to push Standard Life as its pension brand.

The group said the change is “part of the think tank’s bold ambition to help everyone achieve long-term financial security.”

Phoenix Insights was set up in 2021 and the company said it has “driven action in response to some of the biggest challenges of people living longer.”

It claimed the think tank has influenced policy makers’ thinking on pensions adequacy and economic inactivity, as well as driving national media conversations and building new partnerships to promote the importance of good work and the untapped potential of workers in their 50s and 60s.

It said that with more than half of all defined contribution pension savers retiring between 2025 and 2060 expected to be either not saving enough for the retirement they expect, or sadly on track for an inadequate retirement, the think tank’s focus will pivot to how society can achieve financial security for all in later life.

Phoenix said the renamed Standard Life Centre for the Future of Retirement will use research “to provoke fresh debate, drive action and influence change so that people can secure their financial future and enjoy a decent standard of living in their later lives.”

Catherine Foot, Director of the Standard Life Centre for the Future for Retirement, said: “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 the challenges future retirees are facing.”

Phoenix Insights has published research on subjects such as confidence about retirement age, self-employed workers' pension savings, millennials' retirement struggle and the looming retirement crisis.