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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: 239 publications
31 January 2012
These are two headline findings from an in-depth analysis of this government's public pensions and pay policies done by IFS researchers in preparation for the launch of the annual IFS Green Budget. .
31 January 2012
This chapter considers both public service pensions and public sector pay and forms part of the IFS Green Budget 2012, due to be published 1 February.
13 December 2011
These slides were delivered as part of the IFS public economics lectures 2011.
30 November 2011
This presentation was given at a briefing following the autumn statement 2011.
21 November 2011
01 November 2011
Carl Emmerson argues that public service pensions could be redesigned to provide better value for taxpayers.
23 October 2011
This document describes how to use the derived pension wealth variables for ELSA Wave 1.
18 October 2011
Vincent Crawford
This user guide describes how pensions in the ELSA data have been categorised and which variables are included in this separate pensions grid, including some additional derived variables not previously available.
20 July 2011
W11/12
This paper examines changes in health and disability related transfers in the UK over the last thirty years, and describes how they are related to changes in labour force participation.
04 July 2011
This presentation was delivered at the 'Conference on Macroeconomic Policy' held at the Murat Sertel Center for Advanced Economic Studies, Istanbul.
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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.