IFS Report - Expectations and experience of retirement in Defined Contribution pensions: a study of older people in England
Together with the ESRC, the NAPF has co-funded the Institute of Fiscal Studies (IFS) to conduct research on the expectations and experiences of DC savers on retirement.
The report is based on longitudinal studies of those aged 50 to 64 years old in England and Great Britain. Among many other findings it shows that people nearing retirement underestimate their life expectancy and overestimate the amount they have in long term savings. These, together, would not give them their expected income in retirement, which leads to disappointment when members look into annuitising their DC pension pot(s).