Facts and figures about UK taxes, benefits and public spending.
Income distribution, poverty and inequality.
Analysing government fiscal forecasts and tax and spending.
Analysis of the fiscal choices an independent Scotland would face.
Case studies that give a flavour of the areas where IFS research has an impact on society.
Reforming the tax system for the 21st century.
A peer-reviewed quarterly journal publishing articles by academics and practitioners.
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.
This paper revisits the question of how wealth shocks influence retirement behaviour, exploiting the dramatic changes in UK asset prices between 2008 and 2009 as a source of such shocks.
Incentives, shocks or signals: labour supply effects of increasing the early retirement age for women
This paper was presented by Gemma Tetlow at the NBER Summer Institute on 24 July.
We use a unique data set combining lifetime National Insurance contribution histories with detailed micro data from the English Longitudinal Study of Ageing to look at who will benefit from the introduction of the single-tier state pension.
Employment rates through the recession have been remarkably robust, with today’s ONS figures showing employment remaining close to 30 million. The young have experienced historically low employment rates and high unemployment rates but the employment rate of women aged 60 to 64 has increased as fast since 2010 as it did during the 2000s. An important explanation is the gradual increase in the state pension age for women since 2010, which has led to more older women being in paid work. Without this policy change, the employment rate for 60 to 64 year women would have been broadly flat since 2010.
Browse publications & research
Started: 01 February 2012
Started: 01 January 2012
Started: 11 April 2011
Started: 01 May 2004
Started: 01 May 2004
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.