In the context of demographic change, among other trends, how will the incomes of pensioners in the future be supported? As part of our 50th anniversary celebrations, we held an event on 25 June 2019 where IFS Deputy Director Carl Emmerson looked at how our pensions and savings system has worked to support retirement incomes, and what recent developments could mean for the future. He was then joined by Professor Sarah Harper (Founding Director of the Oxford Institute of Population Ageing) and Sir Steve Webb (Royal London, former Pensions Minister and IFS alumnus) for a conversation about how we should think about supporting future generations of pensioners in the decades to come.
You can watch the full event below, and download Carl's slides here.
“Pushing up the state pension age as longevity increases makes sense. But there is a large – and growing – difference in support that the state makes available to low income households who are just below the state pension age and those who are just above it. Such a big gap may look problematic in the context of a rising state pension age.”
We issued a press release ahead of Carl's presentation that outlines the issues around rising longevity and income in retirement.