Jurisdiction(s):
United Kingdom

IFS urges UK government: four-point state pension guarantee, extended automatic enrolment (16-74), targeted contribution increases and pot consolidation to deliver sustainable, adequate retirement incomes

Published on: 04 July 2025

Published by a Law360 reporter

Legal News

Article summary

The IFS outlined several policy proposals in a report that it said would address the current challenges facing the UK pensions system and help to solve the problems future generations of retirees might face

Produced with the abrdn Financial Fairness Trust, the study urges an overhaul of the UK state pension alongside steps to lift private pension saving and improve means-tested help for low-paid workers. It also recommends stronger guidance so people can steward their assets through retirement. Paul Johnson, the IFS Director and co-author, noted there is 'much to celebrate' about the pensions landscape, yet cautioned that policymakers risk complacency. He warned: 'Without decisive action, too many of today's working-age population face lower living standards and greater financial insecurity through their retirement'. Over two-and-a-half years, the review identified priorities to safeguard savers’ futures, from rising pressures on public finances as the population ages to the widespread shortfall in saving that leaves many without an adequate income in later life...

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