While the level of overall health spending is by no means the only determinant of life expectancy, our analysis suggests it has been an important factor in the last 20 years.
The retirement income market has undergone profound changes due to “pension freedoms”. Since its introduction, the ILC-UK has been at the forefront of understanding the potential consumer risks and opportunities associated with the reform. In this special extended blog, Ben Franklin, Head of Economics of Ageing, takes stock of where we are and proposes further reform to embolden consumer freedom through embedding informed decision making at the point of retirement. He argues that a critical first step to achieving this aim will be default financial guidance. Continue reading
Redefining old age as the last 15 years of life would largely solve the ageing problem across the world
A few weeks ago we explored how redefining old age as the last 15 years of life (prospective measure) would change the shape of the dependency ratio for the UK. Continue reading
Stagnant productivity growth and lower migration will put greater emphasis on older workers to do the heavy economic lifting but this won’t resolve our economic malaise
It is no secret that the UK’s productivity performance is dire. But it’s worth underscoring just how dire with a few numbers. Continue reading
Reorienting society and public policy to define “old age” as the last 15 years of life could largely solve the “ageing problem”
Many of us, including yours truly, typically define working age as the years between 16 and 64 and old age as anything over the age of 65. Continue reading
Article 50 has been triggered, and the arduous task of Brexit negotiations has begun. Last week, the question of EU citizens living in the UK proved to be one of the prominent issues that are set to dominate the upcoming discussions. Continue reading
There are two fundamental issues I want to highlight with regards to the defined benefit crisis: the measurement of liabilities, and what should be done to prevent promises being broken (and how best to spread the burden if they are). Continue reading
A universal basic income is being touted as a possible key component of the future welfare state, but the economy still hasn’t reached a stage where automated production and productivity growth can support this. Continue reading
Population ageing is driving down inflationary pressures and reducing real interest rates which gives central banks very little room for manoeuvre.
As growth in the UK’s working age population slows, the role of education in driving forward productivity becomes increasingly important. Continue reading