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Pensions and retirement
The unexpectedly rapid ageing of the population makes it urgent that we design a system that will encourage those who can provide for their own retirement while helping those who reach the end of their working lives with insufficient wealth to sustain what society regards as an acceptable standard of living. These objectives frequently - and perhaps inherently - conflict. In dealing as best they can with the inevitable trade-offs, policymakers need to have three important questions (among many others) in mind.

First, is the financial support offered to pensioners by the state in retirement sustainable in terms of the burden it places on the working population, who pick up most of the bill in the form of taxation? Second, are the mechanisms by which the private financial sector helps people save for retirement sustainable in the sharing of risk between employers and employees? And, third, is the way in which the state and private systems interact sustainable in the sense that the combination promises people a reasonable degree of financial security without creating unduly powerful disincentives for them to work and save?

Research in this area looks at these questions. We look in detail at the impact of various government reforms and proposals for reform to the pension system.

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Year: 234 publications
01 October 2010
This is a chapter of the wave 4 analysis of the English Longitudinal Study of Ageing.
01 October 2010
This is a chapter of the wave 4 analysis of the English Longitudinal Study of Ageing.
17 August 2010
This paper adds to the evidence base on retirement income adequacy and how retirement incomes relate to lifetime earnings.
15 July 2010
Most families accumulated very little liquid wealth between 2000 and 2005 according to new research published today by the Institute for Fiscal Studies and funded by the IFS Retirement Saving Consortium.
15 July 2010
Considerable variation in the amount of wealth that households hold and how they hold it means that some will have been more exposed to falling asset prices during 2008 and 2009 than others. We estimate that the best off will have lost most.
15 July 2010
A new report, commissioned by the Department for Work and Pensions (DWP), provides background analysis and context to aid interpretation of data on the distribution of wealth in Great Britain available from the first wave of the Wealth and Assets Survey (WAS).
15 July 2010
R71
This report looks at the level of wealth and the rate of saving of households in the UK on the eve of the global economic crisis.
09 June 2010
BN105
This Briefing Note describes state pension provision in the United Kingdom from the inception of the basic state pension in 1948, following the Beveridge Report, to Pensions Act 2007 and the plans of the Conservative/Liberal Democrat coalition government.
04 May 2010
BN104
This election briefing note reviews the policies that the three main UK political parties have announced in their manifestos that relate to state pensions, private pension saving, public sector pensions, and employment at older ages.
04 May 2010
BN104
This election briefing note reviews the policies that the three main UK political parties have announced in their manifestos that relate to state pensions, private pension saving, public sector pensions, and employment at older ages.
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Browse publications & research

Impact on Society
Past research into pension reform has contributed to evidence given to government on public service pensions.
Reform of the complex French state pension system was informed by recommendations by IFS researchers.
IFS researchers present and discuss new research on retirement saving with a group of business leaders and policy makers.