This SPP paper highlights a critical structural mismatch in the UK economy - UK retirees currently hold an estimated £3.84 trillion in housing wealth, yet face an aggregate annual retirement income deficit exceeding £48 billion.
Fragmented advice, separate regulatory regimes, and tax barriers like stamp duty prevent people from making holistic decisions about their wealth.
Tags: Housing, Investments, Pensions, Property, retirement, Savings, Wealth,
This SPP paper identifies what the Pensions Commission, recently revived to consider the question of pensions adequacy, should consider and why.
This includes defining “adequate”; identifying the under pensioned; better understanding the trade-off between adequate living and adequate saving; and improving public trust in and awareness of state provision. The paper also explores how disenfranchised groups could be better supported and calls for a long-term plan for increasing auto-enrolment contribution rates.
Tags: adequacy, investment, pension, pension gaps, Pensions, pensions commission, retirement, Saving, SPP,