And is there anything that you can action to maybe try and increase that if you can afford to?

Yeah, so there's a number of things you can do.

The last retirement commission ran between 2002 and 2006.

And it gave us auto enrolment, which was implemented between 2012 and 2017.

And ever since then, most of us who are employed are contributing to a workplace pension.

The level of savings at the time, when combined with the state pension, was designed to keep people out of poverty.

There was an assumption that education, engagement, guidance and advice would encourage people to think about the additional amount that they would need to save on a voluntary basis and that a lot of people would do that later.

Taking a step backwards and looking at property and the part that it could play in your pension planning and financial planning in retirement, how important then is it to kind of prioritise home ownership before heading into your retirement years?

How did you get to that figure?

Well, what we do, James, is each year, it's been about 22 years now, we've been speaking to about 6,000 representative members of the British public to understand their plans and preparations to retirement.

How much are they saving to have pension? How much are they saving investing elsewhere? Whether they'll be retiring as part of a couple, whether they'll have housing costs, all these sorts of things.

We're trying to be able to predict the quality of life that people will have in retirement.

From those 6,000 responses, we use a framework which is managed by an organisation called Pensions UK, which has retirement living standards.

And what they do is they set out a comfortable and moderate and a basic standard of living based on how much you might be able to afford to spend on holidays and cars and food and essentials, etc.

And if you're falling short of that basic standard of living in retirement, which really is quite basic, you're not going to be able to make ends meet.

When are we likely to get any concrete information out of the commission, any recommendations from them for the government to implement? And how likely is it that there'll be any of the policy recommendations you at Scottish Widows have put forward might come to fruition?

I guess anybody listening to those figures at the moment, they might be thinking, "Well, what can I do?" You know, the, there is the statutory amount of auto-enrolment going out, and is there anything that y- you can action to maybe try and increase that if you can afford to?

Yeah.

So there's a number of things you can do.

The last, um, retirement commission ran between 2002 and 2006.

And it gave us auto-enrolment, which was implemented between 2012 and 2017, and ever since then, most of us who are employed are contributing to a workplace pension.

Uh, the level of savings at the time, when combined with the state pension, was designed to keep people out of poverty.

There was an assumption that education, engagement, guidance, and advice would encourage people to think about the additional amount that they would need to save on a voluntary basis, and that a lot of people would do that.

I suppose it would be great to kind of hear your perspective on how well do you think everything at the moment is going, and what would you like to see outside of the pensions dashboard to kind of help people feel more engaged and more empowered in making sure that they've got enough to afford the retirement lifestyle that they want?