Yesterday @nestinsight.bsky.social published new research looking into how many people in low- and moderate-income households have the potential to strengthen their financial resilience through investing. Here are some interesting findings...
"I can understand the need for the State Pension age to rise, because we're all living a lot longer and it's got to be paid for somehow... it's just unfortunate it's happened with my generation."
An interviewee quoted in our research on the State Pension age:
www.standardlife.co.uk/centre-for-t...
Thanks to colleagues at the Standard Life Centre for the Future of Retirement and to research partners at Public First including @patrickjthomson.bsky.social @csfoot.bsky.social @andrewharrop.bsky.social @adamdrummond.bsky.social for their support with the research and report.
We've been speaking to former prisoners and staff at HMP Dartmoor about Radon exposure.
If you have information to share - please get in contact at holly.bancroft@independent.co.uk
www.independent.co.uk/news/uk/home...
Ready or not?
The state pension age starts to rise today
Here’s what it means for today’s 60-somethings
cradle2grave.substack.com/p/ready-or-not
This week, the State Pension age started to rise from 66 to 67.
Our new research with people in their 60s shows that most people know about this change.
However, our research also highlights the issue of pre-retirement poverty among people aged 60 to 65.
www.standardlife.co.uk/centre-for-t...
@csfoot.bsky.social @patrickjthomson.bsky.social
"I like the metaphor of stepping stones because that's kind of what it is. You're kind of transitioning from A to B, and I think stepping stones is much softer language than transitioning or changing. So for me, stepping stones is a nice way to describe it; it is a change."
- Female, 58
"I think you need to think about that [how much to draw down from your pension], because it's a bit like taking the plunge and you don't really know how deep the water is."
- Male, 59
A few example quotes:
"Peace of mind would be my priority. I would definitely trade off [some flexibility] for the peace of mind every time and the contentment."
- Female, 61
We found that:
- Transition to retirement is a period of emotional uncertainty, with peace of mind often trumping purely financial logic
- Shift to DC pensions creates a daunting landscape, leading to a strong desire for control and simplicity
- Decisions heavily influenced by emotional responses
Among people in their 50s and 60s, those reliant on DC pensions are early pioneers of a new type of retirement - defined not by a single event, but by a prolonged period of complex decision-making.
Through 25 in-depth interviews, we explored how psychology influences retirement income decisions.
New research from us at the Standard Life Centre for the Future of Retirement:
"Decisions in the dark: How the DC pioneer generation are navigating retirement income decisions"
Report explores the psychology and emotions of accessing DC pension pots.
www.standardlife.co.uk/centre-for-t...
New Swingometer! The Gorton and Denton By-election: A tale of Two Manchesters
open.substack.com/pub/swingome...
How do other countries support over 50s to return to work?
I've written about this in my new article for the Standard Life Centre for the Future of Retirement.
Examples include 🇸🇬 Singapore, 🇨🇭Switzerland, 🇩🇪 Germany and more!
www.standardlife.co.uk/centre-for-t...
🚨Rare and exciting opportunity 🚨
We're looking to hire an exceptional economist to work on fiscal policy at the IFS. We don't do this often. It's a chance to shape, carry out and communicate research on some of the highest-profile topics in UK economic policy. [1/4]
Last chance to apply for this job - Policy & Research Manager at the Standard Life Centre for the Future of Retirement.
We're a pioneering think tank with a bold ambition to help everyone achieve long-term financial security.
fa-enor-saasfaprod1.fa.ocs.oraclecloud.com/hcmUI/Candid...
We're hiring - join us as a Policy & Research Manager at the Standard Life Centre for the Future of Retirement.
I joined in March last year and am really enjoying working here - so if you're interested do apply!
Deadline: 12 January.
fa-enor-saasfaprod1.fa.ocs.oraclecloud.com/hcmUI/Candid...
The Govt is undertaking the Timms review, assessing whether PIP is “fair and fit for the future”.
But what if we could learn lessons from a nation within the UK that had successfully implemented a new adult disability benefit just three years ago? 🤔
www.resolutionfoundation.org/publications...
🚨 NEW BLOG
Labour have won every election in Wales for 100 years, but they are on track to (badly) lose the 2026 Senedd election - why?
@jaclarner.bsky.social and I have looked at new data, which shows how support is shifting within (not between) Wales's blocs!
blogs.cardiff.ac.uk/thinking-wal...
10 nuggets from the new "British General Election of 2024" book, courtesy of @timbale.bsky.social
theconversation.com/the-ten-most...
Interesting report from the IFS. Disability benefit claims rise when other benefits are cut, as you would expect. The size of the increase is relatively small (lower than I would have predicted). Suggests that high inflation in 2022 would likely have caused more people to claim disability benefits.
Both - a higher number of people in their 60s overall and a higher proportion of people aged 60-64/65 in income poverty. See charts 3 and 11! www.standardlife.co.uk/centre-for-t...
Savings in private pension pots are exempt from this rule, which is good - although you're absolutely right that it penalises other types of saving. And the thresholds of £6,000 and £16,000 have been frozen in cash terms since 2006! See www.resolutionfoundation.org/publications...
@csfoot.bsky.social @patrickjthomson.bsky.social @naomiclayton.bsky.social @stephenevans.bsky.social @louisemurphy.bsky.social @charliemccurdy.bsky.social @emilyishness.bsky.social @dan-goss.bsky.social @sarahoconnorft.ft.com @jburnmurdoch.ft.com @amyborrett.ft.com @marymcd.bsky.social
New report out today
"Jam tomorrow? Work, finances and retirement in an era of a rising State Pension age"
Higher State Pension age has led to higher employment among people in their 60s.
But there are 250k more people in pre-retirement poverty than in 2010
www.standardlife.co.uk/centre-for-t...
Rightly lots of debates about growth this weekend - rightly because it was low productivity growth that saw wages entirely flatline during the 2010s.
😬
See the report for our recommendations for targeted government interventions to scale the supply of skills to match growing demand.
May be of interest to @acjsissons.bsky.social, @codrinacretu.bsky.social, @annaclarke.bsky.social, @chrisstark.bsky.social, @zackleather.resolutionfoundation.org