The UK is currently in the midst of sweeping changes to both state pension provision and private pension arrangements. Recent policy reforms include the introduction of the 'new state pension' from April 2016, further increases in the state pension age and the introduction of 'auto-enrolment' into workplace pensions. These changes are happening against a backdrop of continuing long-term trends, including a decline in the generosity of many employer-provided pensions and increasing life expectancies. These trends and policy reforms have significant implications for households' saving and retirement decisions. In very general terms, the environment is one in which accumulating resources to finance retirement is increasingly important, but the responsibility for ensuring such accumulation happens is shifting ever more to the individual as the state and employers take a step back. We propose a programme of research that will study the implications of this changing environment and recent policy reforms for household behaviour and well-being. Our two central sets of research questions are: 1) Are working-age households saving appropriately for retirement? What will be the likely standards of living in retirement of successive generations of pensioners? 2) What are the likely long-run impacts of recent reforms and other long run trends on household saving and retirement decisions? Different cohorts of individuals (those born in the 1940s, 1950s, 1960s, 1970s) have faced very different incentives to save privately for retirement (and to do so in different types of assets), and will face different incentives to retire as they approach what would traditionally have been the end of working life. This had led to considerable policy concern that while those recently retired have, on average, done so with relatively high levels of resources, those currently in working life are not saving enough for their retirement. We aim to add considerably to the evidence base available for policy makers by exploring what can be known now about the future retirement living standards of currently working age households. We will do this by using the best available data on the decisions that these cohorts have already made, taking into account their past earnings and the structure of state and private pensions that they face, to estimate their future behaviour. We will then consider how their likely retirement standards of living will compare to those enjoyed during working life and to absolute thresholds of poverty in order to assess the 'appropriateness' of the household saving. An important feature of our research will be to study how this differs across different cohorts, given the different incentives they have faced and will face in future. We will also analyse separately the impact of various changes to the pensions and savings environment - including specific policy reforms - on household saving and retirement behaviour, and consequently on households' resources. This will allow us to assess the impact of these changes on standards of living in retirement. The trends and policy changes whose effects we propose to consider are: the declining prevalence of some employer-provided pensions, increases in the state pension age, the introduction of the new state pension, changes in annuity prices, and the financial incentives to save encompassed in 'auto-enrolment'. Such analysis is of considerable importance for policy makers. Understanding the long-run impact of recent, extremely large policy reforms on households' behaviour and living standards is vital for any assessment of a policy's effectiveness at meeting its objectives. Furthermore, greater understanding of the impact of some long-running changes in the pensions and saving environment is needed to better understand which (if any) future policy reforms may be desirable.