• Saving for a holiday is twice as much a priority for UK adults (31%) as saving into a pension (15%), with almost a third (28%) admitting they prefer to ‘live for today’ than plan for tomorrow
  • As cost-of living pressures continue, funding day-to-day finances is the top financial priority for the year ahead, cited by two fifths of UK adults (40%)
  • More than a third (35%) recognise they might not be saving enough for retirement, while nearly half (47%) say their retirement prospects feel shaped by forces beyond their control
  • Standard Life provides top tips on how to balance short and long-term priorities

As millions of people start their summer holidays or look forward to an upcoming break, new research from retirement specialist Standard Life suggests many are prioritising short-term experiences over long-term financial security.1

With household budgets still under pressure, almost a third of Brits (28%) say they prefer to live for today rather than plan for the future. Managing day-to-day finances is the top financial priority for the year ahead (40%), followed by saving for holidays (31%), while just 15% say contributing to their pension is one of their top priorities.

A sense of uncertainty at home and abroad appears to be influencing how people think about their financial futures. Nearly half (47%) say their retirement prospects feel shaped by forces beyond their control, while more than eight in ten (83%) believe the world is less stable than it was in previous years. Around six in ten cite changes in the UK (59%) and globally (57%) as reasons for feeling less confident about the years ahead, highlighting how unpredictability can make long-term planning feel more challenging.

Retirement confidence under scrutiny

This "live for today" mindset persists despite growing awareness that auto-enrolment alone may not guarantee a comfortable retirement. While 45% believe that being automatically enrolled into a workplace pension means they are saving enough for retirement, more than a third (35%) disagree. The split highlights differing perceptions of what it takes to achieve the lifestyle people want in later life, suggesting many remain unsure whether they are on track for retirement.

Mike Ambery

After a challenging few years, it’s no surprise that many people are looking forward to a well-earned holiday. For lots of us, a break in the sun isn’t just a luxury - it’s something that helps us recharge and gives us something to look forward to after months of juggling rising costs and everyday pressures. It’s true that while holidays are easy to picture, retirement can feel a long way off. When money is tight, it’s only natural that the future slips down the priority list. But even small contributions made now can make a meaningful difference over time, and the earlier people start, the more opportunity their savings have to grow

Many of the things that affect our finances, from the economy to the cost of living, are outside our control. Focusing on the steps you can take can help you feel more confident about the future. That could be checking your pension investments are working as hard as you are, increasing contributions when it’s affordable, or making sure you’re getting the full benefit of your employer’s contributions.

In reality, the money you save into your pension today is what helps pay for the holidays, hobbies and freedom you want later in life. It doesn’t have to be a choice between making the most of today and planning for tomorrow - finding the right balance can help people enjoy life now while taking positive steps towards better outcomes and greater financial security in later life

- Retirement Savings Director at Standard Life

Mike’s top tips for balancing living for today and planning for tomorrow

  1. Build a clear picture of your finances

    “Start by tracking your income and expenses to understand your financial flow each month. Try using budgeting apps or a simple spreadsheet to categorise your spending into essentials, lifestyle, and savings. This clarity helps you spot areas where you can save without sacrificing enjoyment, like switching to a cheaper subscription or cutting back on impulse buys.”

  2. Separate short-term and long-term goals

    “It can be helpful to create distinct savings “pots” for different goals – for example holidays, home improvements, emergency funds, and retirement. Automating transfers into these pots can make saving feel effortless. Watching each pot grow gives you the satisfaction of progress while keeping your long-term in motion.”

  3. Keep your pension contributions consistent

    “Even if you’re not able to increase your pension contributions right now, staying consistent is key. Regular payments have the potential to benefit from compound investment growth - over time, this can significantly boost your retirement savings and give you greater options in later life, from more travel to more freedom in how you spend your time.”

  4. Review your progress once or twice a year

    “Set a reminder to check in on your finances every six months. Review your pension statements, savings balances, and spending habits. These mini check-ins help you stay aligned with your goals and can be surprisingly motivating - especially when you see how far you’ve come. If you're heading off on holiday this summer, why not put a date in the diary for when you return to revisit your financial goals and consider any small changes that could make a difference over time.”

  5. Make the most of employer pension contributions

    “If your employer offers pension matching or additional contributions, take full advantage. It’s extra money that boosts your retirement fund. It’s also worth looking out for government incentives, tax reliefs, or cashback offers that can stretch your money further.”

  6. Don’t forget to enjoy life today

    “Financial wellbeing doesn’t have to mean never having any fun. Factor enjoyment into your budgeting - whether it’s dining out, hobbies, or spontaneous treats. When you know your future is being looked after, it’s easier to enjoy the present without guilt or worry – and to look forward to a future where you can make the most of your time without work to think about.”

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Notes to editors

1 Retirement Voice 2025 | Standard Life
Research conducted by Ipsos on behalf of Standard Life in June 2025. In total 6000 participants took part in the online survey. Participants were aged 18-80 and were a mix of working, unemployed and retired people. Quotas and weights were used to ensure the respondents were representative of the UK general population on age, gender and region.

About Standard Life

Standard Life is a retirement specialist focused entirely on retirement saving and income. We are proud to manage around c£317bn in assets on behalf of our 12 million customers, and we champion the belief that everyone's journey to and through retirement can be better.

With our focus entirely on retirement savings and income we want to be the business that people trust to guide their retirement journey, helping our customers achieve better outcomes and greater financial security in later life.

As a FTSE 100-listed group we are using our size, expertise and influence to shape the world our customers will retire into, and are committed to helping three million more customers by 2035, take action towards a better retirement.

Standard Life is a responsible investor with a clear commitment to supporting a more sustainable future. The Group has achieved its net zero goal across its emissions for 2025 and is working towards net zero investment portfolios by 2050 or sooner.

Standard Life is recognised as a leading employer, with long-standing accreditation as a Living Wage Employer, Living Pension Employer and Carer Positive Exemplary Employer and in 2025 became one of Britain’s Most Admired Companies in 2025.