Resolution Foundation

Changes to pension policy must be viewed "through the lens of intergenerational fairness" by a future government, the Institute and Faculty of Actuaries (IFoA) has argued.

Sponsors of defined benefit (DB) schemes have squeezed their workers' wages by around £200 compared to companies without these funds, a think tank has revealed.

A new government should focus on low to middle income households with people aged 50 up to state pension age, according to research.

Growth in income of pensioner households compared to that of working-age has been a "remarkable shift" in recent years, says the Resolution Foundation.

The Resolution Foundation has today launched a commission into intergenerational inequality, focusing on the gap in wages, pensions, and homeownership between generations.

Reducing tax relief for higher earners and raising it for lower earners could save the government money and make the system fairer according to the Resolution Foundation.

The industry will need to scrutinise Budget announcements on national insurance contributions (NIC) for employers closely, the Pensions Policy Institute (PPI) warns.

The average pensioner's income has risen by more than a fifth since 2002 while working-age incomes remained broadly stagnant at around 2% says the Resolution Foundation.