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Home Publications Up to one-in-five facing large income falls on retirement; Financial crisis knocks 10% off wealth holdings among older individuals

Up to one-in-five facing large income falls on retirement; Financial crisis knocks 10% off wealth holdings among older individuals

Press release
These are among the findings from two new reports by IFS researchers launched today, that use household survey data to investigate how well prepared for retirement individuals approaching the state pension age are, and how the wealth of older individuals has been affected by the financial crisis.

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Report
This report provides a new assessment of the proportion of people aged between 50 and the State Pension Age (SPA) who are at risk of having inadequate resources in retirement and considers the characteristics associated with the risk of such inadequacy.
IFS Working Paper W12/09
We use these data and earlier ELSA waves first to document the effect of the crisis on the finances of those aged 50 and over in England, and second, to estimate the effect of wealth shocks on household consumption and individual expectations of the future.