PMI response to Nest Insight’s Housing and Pensions research 

The Pensions Management Institute (PMI) welcomes Nest Insight’s comprehensive and timely research into the potential use of pension savings to support first‑time home ownership. This work brings much‑needed UK‑specific evidence to a debate that is often driven by intuition rather than analysis, and we commend Nest Insight for examining both the potential benefits as well as the risks involved. 

The findings underline a crucial point: while a pension access scheme could improve financial security for a relatively small group of households who may otherwise never be able to buy a home, the implications for the much larger group who might use such a scheme to accelerate home ownership are far more complex. The research highlights important trade‑offs, including the risk of reduced pension adequacy, the potential for increased pressure on house prices, and the challenge of designing a scheme that reaches those who need it most without creating unintended consequences across the housing and pension systems. 

At the PMI, we share Nest Insight’s commitment to understanding how long‑term savings, housing security and financial resilience interact. Our Lifetime Savings Initiative was built on the same principle: that people’s financial needs evolve over their lives, and policy must reflect the interconnected nature of savings, debt, housing and retirement planning. 

As policymakers consider the future of housing and pensions, this research provides a valuable evidence base.  

However, policymakers cannot afford to let housing and pension reform slip down the agenda. Today’s system still leaves too many barriers in place – especially the lack of suitable, affordable housing – and any improvements in pension adequacy risk being cancelled out by rising rents. Targeted support for lower‑income couples, single‑earner families and older renters facing life shocks could make a real difference to long‑term security. And boosting home ownership doesn’t just help individuals: it also reduces future demand for Government rental support, easing pressure on the public purse over time.  

The PMI looks forward to continued collaboration with Nest Insight and others to support informed, holistic and evidence‑based policymaking. 

Read the Nest Insight report - Using pension savings to support home ownership