Laurence O'Brien
Economist at IFS | PhD student in Economics at UCL
- Reposted by Laurence O'BrienI 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/...
- Today the government announced more detail on how they plan to tackle the large number of small pots in the UK pension system. The reforms are due to be announced in the upcoming Pension Schemes bill this spring. A few thoughts on why this matters and what was announced. 👇
- In 2024 there were over 13 million pension pots in the UK worth <£1k that are no longer being contributed to ("deferred"). This is up from around 12 million in 2023. Plus another 10 million pots worth between £1k and £10k.
- The proliferation of these small pots matters. First, it is costly for pension providers, leading to higher charges for savers. Second, it makes it easier for people to lose track of their savings, and much harder to make good decisions on using wealth in retirement.
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View full threadFor more detail on our research on the small pots problem, check out our report from earlier this year. ifs.org.uk/publications...
- Reposted by Laurence O'BrienWe've built a new IFS tool which can be used to explore what the government spends money on, and where in the UK benefits from that spending. Here it is: ifs.org.uk/calculators/.... Short thread on what you can do with the tool:
- NEW: Where and how does the government spend its money? @beeboileau.bsky.social, @maxwarner.bsky.social and @benzaranko.bsky.social's new interactive tool allows you to explore where and how the government spends money, over time and across the UK. 📊 Explore the data: ifs.org.uk/calculators/...
- Reposted by Laurence O'BrienState pension age starts rising again in April 2026. Most people in their early 60s know their state pension age, but a significant minority are incorrect or unaware. This is worrying as people may base retirement and saving decisions on incorrect information. Short thread👇
- NEW: One-in-six of those with a state pension age between 66 and 67 – around 130,000 people – either underestimate or do not know when they’ll be able to claim their state pension. @heidikarj.bsky.social's new Pensions Review briefing looks at people's state pension age awareness: [THREAD]
- Reposted by Laurence O'BrienNew report out today with colleagues @theifs.bsky.social and funded by @jrf-uk.bsky.social and @healthfoundation.bsky.social. We look at what we know about the role of changing health and reported disability in the 38% rise in people claiming disability benefits since the pandemic. A 🧵 [1/10]
- Reposted by Laurence O'BrienNEW: Ending the small pots epidemic @laurenceobrien.bsky.social writes about why the proliferation of small deferred pension pots is burdensome, and the policy options, for Pensions Age:
- Reposted by Laurence O'BrienNEW: Median public sector pay is up by 5% in Scotland since 2019, in contrast to no UK-wide increase. Jonathan Cribb, Magdalena Domínguez and @laurenceobrien.bsky.social's new Scottish Budget report analyses Scottish public sector employment and pay, and the policy implications: [THREAD: 1/7]
- There are over 12 million DC pension pots worth <£1k. This creates complexity for savers and increases costs for providers. The government should help savers out by ensuring that their deferred small pension pots are consolidated together automatically. See 👇 for more details
- NEW: Without policy action, many workers will have their savings scattered across several small pension pots from different jobs. Our new Pensions Review report, funded by @financialfairness.bsky.social, looks at why this causes problems and policy options: [THREAD: 1/8]
- Reposted by Laurence O'BrienA proper piece of work, this. Some great analysis of how households responded to the energy price shock and how effective government policy was at shielding them. The implications for HM Treasury are pretty clear: build a better database! It could save you billions! ifs.org.uk/publications...
- New @theifs.bsky.social research out today! We show that Pakistani and Bangladeshi employees are almost twice as likely to opt out of their workplace pension as other employees. This can have big implications for retirement incomes and evidence points to Islamic religious beliefs as a key driver.
- NEW: Employees of Pakistani or Bangladeshi ethnic origin are almost twice as likely to opt out of workplace pensions as other employees. THREAD on Jonathan Cribb, @laurenceobrien.bsky.social and @david-sturrock.bsky.social’s new report on gaps in pension participation between ethnic groups. [1/9]
- Check out the policy report here: ifs.org.uk/publications... Or the academic working paper here: ifs.org.uk/publications...
- Or check out @david-sturrock.bsky.social's summary thread here: bsky.app/profile/davi...
- Reposted by Laurence O'BrienEVENT: Ethnicity gaps in pension participation Thurs 23 Jan 2025 | 2pm – 3pm | Online We present new findings on ethnic gaps in pension participation rates, with Taha Choukhmane, Athina Vlachantoni, @laurenceobrien.bsky.social and Carl Emmerson. Sign up here: ifs.org.uk/events/ethni...
