Institute finds employees do not capitalise on opportunities to boost retirement savings
IFS says current system doesn’t do enough to support savers on low retirement incomes
Institute says reforms could raise revenue and reduce income tax avoidance
Defined benefit (DB) savers may be accumulating too much in pension savings too soon, taking away from other financial priorities and choices, according to the Institute for Fiscal Studies (IFS).
The government should encourage people to save more into pensions after life stages such as when children leave home and after mortgages and student loans are paid off, the Institute for Fiscal Studies (IFS) says.
One in eight older workers have changed their retirement plans as a result of Covid-19, the Institute for Fiscal Studies says
Thousands of the country’s most financially insecure individuals are remaining in auto-enrolled schemes even if it may not be in their best interests to do so, the Institute for Fiscal Studies (IFS) finds.
Covid-19 has presented the ONS with significant problems calculating inflation during lockdown. Latest Institute for Fiscal Studies research examines the challenges faced.
The average age 40 to 54 year-old men and women expect to retire increased between 2006 and 2017 by more than two years, the Institute for Fiscal Studies (IFS) says.
Taxes will have to increase after the March Budget if the government plans to honour the spending plans in outlined last year, the Institute for Fiscal Studies (IFS) has warned.