Issue 2 - Retirement

In this issue our contributors will discuss how the evolution of retirement saving across public and private pensions has contributed towards a potential intergenerational imbalance, and what can be done make the system more fair and sustainable in the long term.

The move from DB to DC pensions as the main form of retirement saving in the UK over the past decade has shifted the responsibility for retirement income from employers to individuals. Increasing longevity and demographic change have called into question the sustainability and affordability of the State Pension.

The Government faces a number of important policy choices around how to tackle this changing pensions landscape. But to what extent will they be considering the needs and aspirations of younger and future generations when taking on this task?

Intergenerational fairness is a key consideration if we are to ensure a stable, happy and financially sustainable life in retirement for all.

The second bulletin in our intergenerational fairness series, launched on 31 May, features contributions from:

• Frank Field, Chair of the Work and Pensions Select Committee
• David Willetts, Chair of the Resolution Foundation’s Intergenerational Commission
• Steve Webb, Former Pensions Minister
• John Cridland, Independent State Pension age reviewer
• Sally West, Age UK
• Andy Hood, Institute for Fiscal Studies
• Dean Hochlaf, ILC UK
• Janice Turner, Association of Member Nominated Trustees
• Nick Sherry, former Australian Pensions Minster
• Tim Keogh, IFoA Taxation of Pensions WP
• Allan Martin, Independent Pension Trustee