Where next for the state pension?

IFS researchers presented findings from a major new report on the future of the state pension in the UK, published as part of the Pensions Review. The Pensions Review — led by the Institute for Fiscal Studies and in partnership with the abrdn Financial Fairness Trust — is a large multi-year project that assesses the consequences of current pension policy, the economic environment, and individual behaviour on future living standards in retirement.

We shared key findings from the report on the state pension's role within the UK pension system. The report evaluates the current state pension for recent retirees and analyses key challenges for future generations of pensioners. It concludes with policy suggestions aimed at improving the system.