"This reform reduces one arbitrary distinction in the tax system while increasing another. A simpler system of pensions taxation is possible." 📰 Read @matthewoulton.bsky.social & @laurenceobrien.bsky.social's article in FT Adviser on the latest pension tax reform: www.ftadviser.com/content/387f...

How is wealth distributed in the UK and how has this changed? Currently, official statistics don't give a good answer: they calculate pension wealth in a way that's inconsistent over time and with how other assets are valued. New @theifs.bsky.social report with Isaac Delestre fixes this: 🧵

From next Monday, the state pension age (SPA) will start gradually going up again from 66 to 67, affecting people born on or after 6 April 1960. What is the rationale for this? What effects might it have on people? And should we expect any further increases? [THREAD]

I had a great time chatting about older people with @timharford.ft.com on BBC4 More or Less. The starting question was – are one in four pensioners really millionaires? Quick thread below: www.bbc.co.uk/sounds/play/...

Today the government announced more detail on how they plan to tackle the large number of small pots in the UK pension system. The reforms are due to be announced in the upcoming Pension Schemes bill this spring. A few thoughts on why this matters and what was announced. 👇

We've built a new IFS tool which can be used to explore what the government spends money on, and where in the UK benefits from that spending. Here it is: ifs.org.uk/calculators/.... Short thread on what you can do with the tool:

State pension age starts rising again in April 2026. Most people in their early 60s know their state pension age, but a significant minority are incorrect or unaware. This is worrying as people may base retirement and saving decisions on incorrect information. Short thread👇

New report out today with colleagues @theifs.bsky.social and funded by @jrf-uk.bsky.social and @healthfoundation.bsky.social. We look at what we know about the role of changing health and reported disability in the 38% rise in people claiming disability benefits since the pandemic. A 🧵 [1/10]

NEW: Ending the small pots epidemic @laurenceobrien.bsky.social writes about why the proliferation of small deferred pension pots is burdensome, and the policy options, for Pensions Age:

NEW: Median public sector pay is up by 5% in Scotland since 2019, in contrast to no UK-wide increase. Jonathan Cribb, Magdalena Domínguez and @laurenceobrien.bsky.social's new Scottish Budget report analyses Scottish public sector employment and pay, and the policy implications: [THREAD: 1/7]

There are over 12 million DC pension pots worth <£1k. This creates complexity for savers and increases costs for providers. The government should help savers out by ensuring that their deferred small pension pots are consolidated together automatically. See 👇 for more details

A proper piece of work, this. Some great analysis of how households responded to the energy price shock and how effective government policy was at shielding them. The implications for HM Treasury are pretty clear: build a better database! It could save you billions! ifs.org.uk/publications...

New @theifs.bsky.social research out today! We show that Pakistani and Bangladeshi employees are almost twice as likely to opt out of their workplace pension as other employees. This can have big implications for retirement incomes and evidence points to Islamic religious beliefs as a key driver.

EVENT: Ethnicity gaps in pension participation Thurs 23 Jan 2025 | 2pm – 3pm | Online We present new findings on ethnic gaps in pension participation rates, with Taha Choukhmane, Athina Vlachantoni, @laurenceobrien.bsky.social and Carl Emmerson. Sign up here: ifs.org.uk/events/ethni...

New working paper out! Governments in many countries have raised early retirement ages (ERAs) in response to public finance pressures from ageing populations. These policies have consistently been found to lead to increased employment rates among older workers. This paper asks: why? 🤔