Working longer and saving more: JRF research

Published Jul 6th 2016

Research by the Joseph Rowntree Foundation into saving for later life identified several policy proposals that the majority of survey respondents supported. Two that caught my eye were:

  1. Redistribute tax relief so that those on lower earnings receive a greater contribution from the government while those on higher earnings receive a more modest one.
  2. There is enthusiasm for working longer, i.e. beyond the current retirement age, if opportunities for flexible and part-time work were available, along with options to retrain or upskill.

We know the older age groups in the population are growing in number, so financially preparing for a longer life is essential, yet extremely difficult. Younger generations are trying to save for a home and simply make ends meet for their families, so creative thinking and approaches are vitally important to this long-term work.

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