Report: As good as it gets?

This Resolution Foundation report for the Intergenerational Commission presents findings on the adequacy of retirement incomes for recent cohorts of retirees in Great Britain. It also projects the future adequacy of retirement incomes for today’s working age adults.

Key findings:

• There remains a stubborn core of around one-fifth of recent retirees who fall short of the Minimum Income Standard.
• The typical earnings replacement rate in the years immediately following retirement (for those retiring from the turn of the century to 2012) was 54 per cent.
• The Resolution Foundation expects around one-fifth of new retirees to continue to enter retirement with an income below the Minimum Income Standard.
• It projects that around 77 per cent of all cohorts retiring from 2020 will fall below adequacy benchmarks.
• The modelling set out in this report suggests that retirement income adequacy has the potential to be fairly similar for future generations to the outcomes experienced by today’s retirees.