How does financial insecurity during working life impact in later life and retirement? Within this, we are interested in who experiences financial insecurity over the life-course and who should prioritise short-term income over long-term pension saving.
Background
Shaping a pensions system that serves the interests of savers and pensioners is central to DWP’s work to support decent, secure retirement incomes for all. This group of questions covers evidence on pension adequacy, financial resilience, pensioner poverty, retirement choices and the functioning of workplace, private and state pension systems. DWP is interested in how demographic change, economic conditions, employment patterns and saving behaviour affect outcomes for different groups, including those at greater risk of under-saving or financial insecurity. Evidence is also needed on how savers and pensioners engage with pensions and pensioner benefits, how employers respond to pension obligations, and how pension markets are changing. External research can help DWP understand long-term risks and trade-offs, the balance of responsibility between individuals, employers and government, and how policy and market design can support decent, secure retirement incomes while considering wider economic impacts.
Next steps
Send correspondence and further questions to [email protected]
Topics
Research fields
Related UKRI funded projects
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The adequacy and optimality of retirement provision: household behaviour and the design of pensions
The UK is currently in the midst of sweeping changes to both state pension provision and private pension arrangements. Recent policy reforms include the introduction of the 'new state pension' from April 2016, further in...
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Why might this be relevant?
The project specifically addresses the impact of financial insecurity on retirement provision and household behavior.
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Understanding the role of liquid wealth, family financial transfers, and pensions in household insurance
Context Households might need to save for two primary reasons: to insure themselves against adverse events, and to provide resources in retirement. While standard economic models often assume that individuals are able t...
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Why might this be relevant?
While the project focuses on household insurance and pensions, it partially addresses the impact of financial insecurity on retirement.
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Social differentiation in later life: Exploring the interaction between wealth, education and retirement trajectories in Japan and the UK
The process of retirement is becoming more complex and differentiated in terms of timing and resources. 'Active Ageing' policies in many societies now encourage older workers to work up to and beyond retirement age. Howe...
Funded by: FIC
Lead research organisation: University of Bristol
Why might this be relevant?
The project explores social differentiation in later life, including the impact of wealth and education on retirement trajectories.