Wednesday, 9 March 2016

Pension reform- should the state pension age be changed?

Recently the media has covered extensively news about the possibility that the state pension age will rise further
An government review has been announced. Its terms of reference are given on the website.
The Parliament website has links to recent bills, briefing papers, reports and debates on all aspects of pension reform.

The Independent Review of Retirement Income (IRRI) recently suggested that people need more help in preparing financially for retirement 

The Pensions Policy Institute also recently released a report

The Under-pensioned 2016 is part of a a series exploring the pension income of women, ethnic minorities and disabled people. This 2016 report also explores the pension income of carers and the self-employed. The two previous reports were published in 2003 and 2008. They can be accessed here:
All show problems in preparing for retirements amongst certain sections of the British public.

IFS has produced some useful resources on pension income and pension age. They include a historical summary from 1948-2010
They have also recently analysed the impact of the rise in female pension age on the labour market
and considered future patterns of work, retirement and pension income

Other key groups that have commented and researched pension reform include:

 NatCent social research report on changes to work and income around retirement age.
TUC reports on inequality and pensions.
Citizen Advice consumer researche on how older people think about pensions and retirement.
PWC blog on all aspects of pensions including this paper on flexible working and the future of pensions.
IEA has called for faster reform.
International Longevity Research centre has reports on recent social science research on the nature and impact of retirement.
Pensions and Lifetimes savings Association. Industry body

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