This summary draws upon a report and briefing note authored by IFS researchers as part of a programme of work examining the outlook for poverty and living standards in older age, funded by the Joseph Rowntree Foundation. The work involved a review of the relevant literature, and analysis of the Family Expenditure Survey, Labour Force Survey and the English Longitudinal Study of Ageing.
Authors
Report details
- DOI
- 10.1920/re.ifs.2024.0923
- Publisher
- Joseph Rowntree Foundation
Suggested citation
Chandler, D and Tetlow, G. (2015). Retirement in the 21st century. York: Joseph Rowntree Foundation. Available at: https://ifs.org.uk/publications/retirement-21st-century (accessed: 13 July 2025).
Related documents
More from IFS
Understand this issue

How to fix UK pensions?
Can the UK pensions system deliver a decent standard of living in retirement? We explore the challenges and changes needed.
4 July 2025

Why is the government reforming health-related benefits?
We discuss the government's welfare reforms aimed at helping sick and disabled people into work, and what the changes mean for health-related benefits
14 May 2025

Spring Statement 2025: IFS Zooms In
What were the decisions and trade-offs made by Chancellor Reeves?
27 March 2025
Policy analysis

Working in your 60s: a way to stay young for some
On average, women who remained in work for longer following increases in the state pension age saw improved cognition and less physical disability.
13 May 2025

The Pensions Review: final recommendations
We provide concrete recommendations to improve the UK pension system to secure better standards of living for future pensioners.
2 July 2025

Changes to benefit reforms reduce saving from bill by £3bn in 2029-30 but create huge difference in support between claimants
These changes more than halve the saving of the package of reforms, making the Chancellor’s already difficult Budget balancing act much harder.
27 June 2025
Academic research

The future of public pension provision in the UK: challenges and trade-offs
The UK state pension system faces significant challenges given the country’s ageing population, but it is crucial for retirement finances.
6 June 2025

The impact of work on cognition and physical disability: Evidence from English women
We show that remaining in work has significant positive causal effects on the average cognition and physical mobility of older women in England.
13 May 2025

Costly attention and retirement
In UK data, I document the prevalence of misbeliefs regarding State Pension eligibility age (SPA) and these misbeliefs’ predictivity of retirement.
1 April 2025