We examine the extent to which owner-occupiers in their 50s and 60s change their private pension saving when they complete repayment of the mortgage on their primary residence. Using panel data from a household survey, the English Longitudinal Study of Ageing, we identify those who completed...

There are large socio-economic gaps in higher education participation. But returns to education in the UK derive largely from the attainment of qualifications rather than years of study, and additionally vary by institution, subject and degree class for graduates. This paper provides new...

The paper investigates the short run responsiveness of National Health Service (NHS) nurses' labour supply to changes in wages of NHS nurses relative to wages in outside options available to nurses, utilising the panel data aspect of the Annual Survey of Hours and Earnings. We find the short run...

This paper investigates the impact of inheritances and gifts received on the distribution of wealth among older households in England, and the implications for inequality in lifetime incomes. Whereas previous work has looked only at marketable wealth, we consider broader measures including...

Much of the focus of the UK pensions policy debate over the past decade has been on the adequacy (or otherwise) of private retirement saving. In this paper, we present the first assessment of the optimality of the retirement resources of English couple households born in the 1940s. Here,...

Using a model where households can save in either a safe asset or in an illiquid, tax-advantaged pension, we assess the extent to which those who recently reached the state pension age in the UK have saved optimally for retirement. The policy environment specified closely matches that prevailing...

In this report, we examine the long-run fiscal pressures that an independent Scotland may face, how these would differ from those facing the UK, and the size of the fiscal consolidation that may be required to put Scotland's public finances on a sustainable path. We do this using a model of the...

A significant reform of the UK's state pension system is currently being enacted. From 2016-17, the basic state pension and state second pension will be replaced by a new single-tier pension for everyone below the state pension age (SPA). This will bring an end to earnings-related state pension...

This report, funded by the National Association of Pension Funds and the Economic and Social Research Council, examines a range of quantitative evidence to shed light on how current older cohorts of defined contribution (DC) pension fund holders are approaching and dealing with retirement and...