By Jonathan Cribb, Heidi Karjalainen & Laurence O’Brien

This report is an output from a programme of research on ‘Pension saving over the lifecycle’

(WEL /FR-000000374) that is funded by the Nuffield Foundation. Co-funding from the ESRCfunded Centre for the Microeconomic Analysis of Public Policy (ES/T014334/1) is also gratefully acknowledged. We are grateful to Alex Beer, Carl Emmerson and Paul Johnson for useful comments, and to Rowena Crawford for discussion and advice on this work.

This work was produced using data from the Annual Survey of Hours and Earnings, provided by the Office for National Statistics (ONS) through the Secure Research Service. The use of the ONS statistical data in this work does not imply the endorsement of the ONS in relation to the interpretation or analysis of the statistical data. This work uses research datasets which may not exactly reproduce National Statistics aggregates.

We also use data from Understanding Society (the UK Household Longitudinal Study).

Understanding Society is an initiative funded by the Economic and Social Research Council and various government departments, with scientific leadership by the Institute for Social and Economic Research, University of Essex, and survey delivery by NatCen Social Research and Kantar Public. The research data are distributed by the UK Data Service.

Data from the Family Resources Survey were made available by the Department for Work and Pensions, which bears

no responsibility for the interpretation of the data in this report.

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