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Estimating pension wealth of ELSA respondents

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Author Info
James Banks () (Institute for Fiscal Studies and University College London)
Carl Emmerson () (Institute for Fiscal Studies)
Gemma Tetlow () (Institute for Fiscal Studies)

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Abstract

This paper explains the methodology used for calculating pension wealth for all individuals in the first wave of the English Longitudinal Study of Ageing (ELSA). We focus on the pension wealth of individuals aged between 50 and the state pension age. Both state and private pension wealth has been calculated and each has been calculated both on the basis of immediate retirement in 2002 and on the basis of retirement at the state pension age. Sensitivity analysis of our assumptions is also presented, which shows that the distribution of pension wealth is sensitive to our assumptions about the discount rate and contracting out histories but insensitive to assumptions about future earnings growth, future annuity rates and future asset returns.

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Publisher Info
Paper provided by Institute for Fiscal Studies in its series IFS Working Papers with number W05/09.

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Length: 68 pp.
Date of creation: May 2005
Date of revision:
Handle: RePEc:ifs:ifsewp:05/09

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Clark, Tom & Emmerson, Carl, 2003. "Privatising provision and attacking poverty? The direction of UK Pension Policy under new Labour," Journal of Pension Economics and Finance, Cambridge University Press, vol. 2(01), pages 67-89, March. [Downloadable!]
  2. Martin Feldstein, 1998. "Privatizing Social Security," NBER Books, National Bureau of Economic Research, Inc, number feld98-1.
  3. Alan Budd & Nigel Campbell, 1998. "The Roles of the Public and Private Sectors in the U.K. Pension System," NBER Chapters, in: Privatizing Social Security, pages 99-134 National Bureau of Economic Research, Inc. [Downloadable!]
  4. Richard Blundell & Costas Meghir & Sarah Smith, 2002. "Pension Incentives and the Pattern of Early Retirement," Economic Journal, Royal Economic Society, vol. 112(478), pages C153-C170, March. [Downloadable!] (restricted)
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Behncke, S, 2009. "How Does Retirement Affect Health?," Health, Econometrics and Data Group (HEDG) Working Papers 09/11, HEDG, c/o Department of Economics, University of York. [Downloadable!]
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