Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/317059 
Year of Publication: 
2025
Series/Report no.: 
IFS Report
Publisher: 
The Institute for Fiscal Studies (IFS), London
Abstract: 
This report is one of two reports on the management of pension wealth in retirement conducted as part of the Pensions Review, led by the Institute for Fiscal Studies in partnership with the abrdn Financial Fairness Trust. In this report, we examine the decisions that older individuals face as they draw on and manage their private pension wealth through retirement. In particular, we highlight the growing importance of defined contribution (DC) wealth, fuelled by automatic enrolment into (predominantly) DC workplace schemes, we document how retirees currently draw down on their wealth and we provide evidence for the wide range of financial risks that older people face. We utilise data provided by the Association for British Insurers, the Financial Conduct Authority, and the Office for National Statistics, as well as conducting our own new empirical analysis of household surveys. We have also benefited from insights provided by focus groups which have been run alongside this project by Ignition House. The accompanying report (Boileau, Cribb and Emmerson, 2025) uses the evidence drawn together in this report in discussing potential policy improvements to help people make good financial decisions through their retirement.
Subjects: 
Savings, pensions and wealth
Ageing
Private pensions
Retirement
Savings
Wealth
Persistent Identifier of the first edition: 
ISBN: 
978-1-80103-219-3
Document Type: 
Research Report

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