“With a £6 billion shortfall in funding currently projected for 2028–29, tough choices will be needed to reform the system, and/or to work out how to fill the funding gap.”

📗 Read the briefing, funded by @nuffieldfoundation.org, here: ifs.org.uk/articles/har...

“Faced with cognitive decline and complex finances, many are likely to find it difficult to manage their finances. The good news is these effects tend to emerge slowly, [giving] a window to put plans in place.“

📗 Read the report here: ifs.org.uk/publications...

The exact mechanisms behind these results are not yet fully clear.

But as financial mistakes tend to become more likely with age, there is a potential role for policymakers, pension providers and families to do more to mitigate financial risks arising from cognitive decline.

Find all of our IFS analysis of the #Budget2025 here: ifs.org.uk/collections/...