This analysis looks at how the level of undersaving for retirement changes under various policy and economic scenarios.
Ref: ISBN 978-1-78425-302-8 PDF, 448KB, 92 pages
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This analysis uses a measure of income replacement rates to determine adequacy of saving for retirement. After looking at the current situation, the analysis investigates how the level of undersaving changes under 5 themes:
- higher labour market participation among people aged between 50 and State Pension age
- opt out rates from automatic enrolment into workplace pension schemes
- the level at which people contribute to private pension saving
- the way in which the new State Pension will be uprated each year
- the starting rate of the new State Pension
This report builds on the adequacy methodology described in the Framework for the analysis of future pension incomes published in September 2013.
Authors: Richard Allison, Richard Brookes, Jack Stevenson, Joseph Woods (DWP)