The government has recently announced its intention to enable the introduction of Collective Pensions in Britain. Over the past four years, the RSA has researched the advantages and pitfalls of Collective Pensions. It has advocated that these should be allowed in the UK, provided that there is an appropriate legal and regulatory framework. In this briefing note, the RSA sets out in simple terms how Target Pensions work, what are their advantages and their pitfalls - including how they provide a 33% better outcome than individual saving and result in more predictable returns. The RSA believes that now is the time to act and that British people should be allowed to save for retirement through collective pensions, just like people in Holland, Denmark, parts of the United States, Canada and Sweden.