Although older generations have substantially more wealth than their recent predecessors did at the same age, younger generations do not. Bringing together UK data on those born between the 1930s and 1980s and a lifecycle model of saving, I quantify whether this is due to changes in preferences...

The tax system treats funds that remain in a pension at death extremely favourably. Where an individual dies before age 75, funds remaining in their pension escape income tax entirely - there was income tax relief when the money was paid into the pension and no income tax when the money is taken...

This report gives a new and up-to-date picture of the giving and receiving of significant intergenerational wealth transfers during life, summarising the findings of two research papers. New data from the Wealth and Assets Survey (WAS) allow us to build a comprehensive picture of the flow of...

We set out issues with the inheritance tax system and examine options for reform and the distributional impacts of reforming or abolishing the tax.

This report describes patterns of financial help from family received by first-time buyers. We quantify the value of gifts and loans made, how they vary across different regions of the country and between those from different parental backgrounds, and shed light on their role in explaining...

This report discusses how public policy should change to bring about better outcomes in retirement for employees through their accumulation of private pension wealth. In doing so, we draw on new modelling undertaken as part of the Pensions Review (O'Brien, Sturrock and Cribb, 2024) as well as...

There have been widespread concerns about the patterns of retirement saving amongst self-employed workers, who now make up just over one in eight of the whole labour force. Most strikingly, the fraction of self-employed workers earning over £10,000 who are making contributions to a private...

This report gives a new and up-to-date picture of the giving and receiving of significant intergenerational wealth transfers during life, summarising the findings of two research papers. New data from the Wealth and Assets Survey (WAS) allow us to build a comprehensive picture of the flow of...

We document key patterns in the flow of significant gifts and loans between friends and family in Great Britain, using newly-available data from the Wealth and Assets Survey. We identify a number of new stylised facts. Gifts and loans are generally intergenerational transfers: 83% of the value...