How should pensions be taxed? We propose income tax and National Insurance reforms that would more evenly support pension saving. Pensions are the biggest component of household wealth and are treated favourably by the tax system. That means getting pensions tax design right matters. It matters...

The reason why both earnings growth and inflation matter for the state pension is the pensions 'triple lock'. In place since 2011 (except for a one-year temporary suspension in 2022), under the triple lock the state pension rises in line with the highest of CPI inflation, average earnings growth...

The earliest age at which women can receive a state pension in the UK (the "state pension age") has been increasing since 2010. We use a difference-in-differences methodology, exploiting the gradual increase from age 60 in 2010 to age 63 in 2016, to estimate the impact of the reform on women's...

The current system of private pension savings in the UK is based on employers choosing a workplace pension provider, to which contributions from the employee and employer are sent, and which invests the contributions on behalf of the employee. This means that when an individual leaves their...