The future of the state pension

With an ageing population, the UK faces a series of significant challenges with regard to its state pension. The OBR estimates that spending on the state pension, pension credit and winter fuel payment is expected to rise by 1.2% of national income (£32 billion per year in today’s terms) by 2050.How does the state pension work? What are the problems with it? And how can we reform it to work more effectively?In our final episode of the year, Paul is joined by Jonathan Cribb, Associate Director at IFS and Head of the Retirement, Savings, and Ageing sector, and Baroness Ros Altmann, a life peer, pensions expert and former Pensions Minister.Find out more: https://ifs.org.uk/Become a member: https://ifs.org.uk/individual-membership Hosted on Acast. See acast.com/privacy for more information.