Commissioned project - This project used household survey data to examine the likely financial circumstances and behaviour of people during retirement

The project involved three distinct strands, all of which exploit recently available data from large-scale household surveys to contribute to a greater understanding of the future prospects for retirement resources in Britain:

  1. The evolution of wealth and financial behaviour in Britain since 2006
  2. Differences in economic circumstances across successive cohorts
  3. Simulating the future distribution of incomes, and income-poverty, among older people
Project conducted by:

The Institute of Financial Services (IFS), with funding from the IFoA, as well as: Age UK; Department for Work and Pensions; Economic and Social Research Council; HM Treasury; Investment Management Association; Money Advice Service; Financial Conduct Authority; Just Retirement; and the Joseph Rowntree Foundation.

Events and waypoints: Presentations to stakeholders will run until the project closes in June 2015.

The final outputs of the programme of work comprised of published reports for each of the three projects. These were published as part of the IFS publications series and made freely available on the IFS website.

Outputs that have been produced from the programme include A. Hood and R. Joyce (2013), The economic circumstances of cohorts born between the 1940s and the 1970s, IFS Report.  

Commenced: 1 June 2013


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Events calendar

  • Spaces available

    We’ve all heard about the gender pay gap. Sadly, the gap doesn’t just exist with base pay.

    Research carried out by Legal & General in 2021 across the four million members in our Defined Contribution (DC) pensions, found that there’s a gender pension gap too, continuing the divide between men and women.

  • Spaces available

    As current global events continue to demonstrate, geopolitical tensions present significant risks to corporates of all sizes. However, these types of risk are often not given the discussion time it needs at the board level or executive committee levels, nor the resources required to anticipate, analyse and mitigate them effectively.

  • Spaces available

    At retirement, it has become very popular for those with Defined Contribution (DC) pensions to choose drawdown rather than an annuity, but drawing a sustainable lifetime income in this way is an impossible challenge for most people. We consider a Decumulation Pathway for the typical consumer, where a small part of the DC fund is set aside for any flexible access and legacy requirements. The bulk is then used to provide a lifetime income, utilising the pooling or insuring of longevity risk.

  • CILA 2022

    23 May 2022 - 24 May 2022

    Spaces available

    We continue to live in a world of global uncertainty. Survival depends on our ability to simultaneously navigate through the diverse root-causes, ranging from: the consequences of Climate Change; transitioning to Net Zero; increased inflationary pressures and supply chain issues; to self-imposed changes in regulatory requirements. CILA 2022 focuses on these challenges to ensure we continue to be informed and remain battle ready, as well as showcasing highlights of recent CMI outputs.

  • Spaces available

    In the spirit of fostering the IFoA’s vibrant, global community and enabling our members to participate, we have decided to hold our AGM virtually again this year. This allows for greater accessibility to this important annual event, and for greater accountability of our organisation.

    The Business of the AGM

  • The IFoA Conference 2022

    133 Liverpool St, London EC3A 7BX and Online
    22 June 2022 - 23 June 2022
    Spaces available

    We’re delighted to welcome you back to our first in-person conference since early 2020, also being delivered virtually in our first-ever hybrid event. The theme of our inaugural two-day conference is ‘Focusing on tomorrow’s actuary’ and will explore the contribution actuarial science is making to some of tomorrow’s biggest issues.