@patrickjthomson
Head of research analysis and policy at the Standard Life Centre for the Future of Retirement. Think tank thinking about helping people achieve long term financial security www.standardlife.co.uk/centre-for-the-future-of-retirement
Things could be worse.
Just saw a dad frantically on the phone, with a kid in *FULL DINOSAUR COSTUME* at the school gates who had turned up for World Book Day a week early...
Ooh - handy list of PRACTICAL TIPS FOR WORKING PARENTS for anyone after some childcare hacks for the "summer childcare crunch"
Not sure why I hadn't thought of...*checks notes*... the Ritz-Carlton, Gleneagles, Southern California or one in Fiji who actually 'get' what parents need
lnkd.in/eRSJVrUN
Our research and views from few years ago still relevant
library.standardlife.co.uk/Reaching-a-c...
3) social status and identity derived from work for some (evidence shows *men*) who struggle with cliff edge retirement. Lose identity, don't form new social bonds, "A two week holiday and then... the rest of your life...") means planning for this lifestage need to go beyond do I have enough money?
Agree with the piece
We can learn a lot about
1) what value people get from work beyond money (from pensioners who continue to work beyond neccesity)
2) the economic essentialness of unpaid work (volunteering/caring from pensioners)...
100 years ago old age was a very good proxy for need for income replacement and reduced ability to work
If you were designing a UBI system today would you target it exclusively based on 'reaching a certain age' when the association with inability to work and lack of other income is weaker?
Be interesting to see if as many would agree 'one age group in society should receive a UBI'?
This is the right framing and question. We can learn a lot about the real world experiment of UBI in a socially/politically acceptable packaging (the State Pension)
Most agree the State Pension is there to ensure everyone has a minimum level of income in retirement.
New research from us at the Standard Life Centre for the Future of Retirement:
"Decisions in the dark: How the DC pioneer generation are navigating retirement income decisions"
Report explores the psychology and emotions of accessing DC pension pots.
www.standardlife.co.uk/centre-for-t...
I had a great time chatting about older people with
@timharford.ft.com on BBC4 More or Less. The starting question was – are one in four pensioners really millionaires? Quick thread below: www.bbc.co.uk/sounds/play/...
Really excellent, well done! It's such an interesting topic
Brilliant think tank job opportunity
Come work for us at the Standard Life Centre for the Future of Retirement
Asking (and hopefully answering) some of the big questions for people, industry and government
Closing this Mon 12th Jan
fa-enor-saasfaprod1.fa.ocs.oraclecloud.com/hcmUI/Candid...
Fantastic news - congratulations!
From our recent evidence session with the Work and Pensions select committee into the transition to State Pension age inquiry
parliamentlive.tv/event/index/...
Knowing with some certainty that there is a group in society who's rates of poverty will double in the next few years - is that the best outcome we can hope for?
That's what will happen to 66 year olds from next April - how can we weather the change?
www.standardlife.co.uk/centre-for-t...
New report out today
"Jam tomorrow? Work, finances and retirement in an era of a rising State Pension age"
Higher State Pension age has led to higher employment among people in their 60s.
But there are 250k more people in pre-retirement poverty than in 2010
www.standardlife.co.uk/centre-for-t...
Incredible to see how different things were. In the 1970s pensioners were most likely to live in poverty. Pining after lamp shades, butter and barley water...
Now a new challenge - 250,000 more in pre-retirement poverty since the state pension age began to rise
share.google/9lPMsYNWq0Gt...
And on pensions not ISAs - but people really underestimate the importance of investment growth...
On top of good point on financial literacy - we've found
a) people feel less certain of their future finances because of current world/UK affairs
b) those that feel uncertain more likely to be cautious /save cash, less able to visualise their future self
library.standardlife.co.uk/RetirementVo...
Are concerns about rising costs of studying, waning graduate pay premium a factor? Would some of this group have entered Higher Education under previous scenarios?
The other interesting aspect is how this makes the whole life course more stretched out, with people starting later, working later and living longer
library.standardlife.co.uk/changing-jou...
New research out today
"Retirement Voice 2025: How an era of uncertainty is affecting our attitudes towards retirement"
We used a new 6k survey of the UK population. I had fun designing the charts! Find out how people feel about finances, work and retirement
www.standardlife.co.uk/centre-for-t...
Good piece in the FT which cites our research from the Standard Life Centre for the Future of Retirement on the demographics of the Industrial Strategy workforce.
And to complete the picture - the politics of who then pays for this. Large birth cohorts are also large voting blocs.
Until 2024* Baby Boomers had never "lost" a general election
(*presumably, haven't seen update of this chart)
Interesting chart from this @stephenkb.bsky.social piece.
Should be viewed alongside the birth-rate chart (see next post).
www.ft.com/content/107a...
And for more analysis that no one is asking for...
Norway would win the knockouts if each match was based on who has the smallest gender pay gap.
Ahead of the Euro 2025 quarterfinals...
How would you feel if the officials added an additional 14 minutes of injury time at the end of the 90?
That's how much longer women in the UK need to achieve pay parity.
In Belgium it's just 1 extra minute
Agree huge diversity in how/when costs increase (health, social care, pensions) but also when economic activity declines
78% of people say they could do their job or one like it by the time they're 60, less than half at 70
Extraordinary to see the active promotion of silos in previous policy debates
share.google/WO8QhlGx9fMR...
Who do you picture working in the high-growth, high-tech sectors of rhe Industrial Strategy?
These sectors are older than average and all have a higher rates of early retirement.
We estimate this costs economy £31bn - we need to plan for this
www.standardlife.co.uk/centre-for-t...
