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Home Publications Those born in the '60s and '70s likely to be no better off in retirement than their predecessors-unless they inherit

Those born in the '60s and '70s likely to be no better off in retirement than their predecessors-unless they inherit

Andrew Hood and Robert Joyce
Press release

Inherited wealth looks like the only major factor that could act to make individuals born in the 1960s and 1970s better off in retirement than their predecessors, on average. When compared with those born a decade earlier at the same age, these cohorts: have no higher take-home income; have saved no more of their previous take-home income; are less likely to own a home; probably have lower private pension wealth; and will tend to find that their state pensions replace a smaller proportion of previous earnings.

These are among the main findings of a new report by IFS researchers published today, funded by the Joseph Rowntree Foundation, the IFS Retirement Saving Consortium and the Economic and Social Research Council.

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Report summary
This summary is based on a report from the IFS, which compares and contrasts the economic circumstances of individuals currently aged between their mid-30s and mid-70s.
Report
This report compares and contrasts the economic circumstances of individuals born between the 1940s and the 1970s, currently aged between their mid-30s and mid-70s.
Report
This report compares and contrasts the economic circumstances of individuals born between the 1940s and the 1970s, currently aged between their mid-30s and mid-70s.