This document examines how changes in migration rates and employment rates of those aged 65+ can impact UK economic output. It analyzes four scenarios with varying migration and employment rate assumptions and their effect on output under different productivity growth levels. The findings show that small increases to migration and 65+ employment rates over time can significantly boost UK output, especially if productivity growth is low. Policies should consider long-term impacts and facilitate working beyond 65 to encourage higher economic growth.
On the 12th October 2016, the ILC-UK held a Housing in an Ageing Society event, kindly hosted by Legal & General and supported by the ILC-UK Partners Programme.
On Tuesday, 19th July the International Longevity Centre - UK (ILC-UK) launched our “Housing in an ageing society” factpack with the support of FirstPort.
The report found a significant increase in older people living alone, yet millions were failing to adapt their homes to help them live independently.
The State of the Nation’s Housing’ reports that:Only around half of those over 50s experiencing limitations in Activities of Daily Living, live in homes with any adaptations.
Those in retirement housing are significantly more likely to be living in homes with adaptations than those who do not. Approximately 87% of those in retirement housing have home adaptations, by comparison to around 60% of other housing.
There could be a retirement housing gap of 160,000 by 2030 if current trends continue. By 2050, the gap could grow to 376,000.
Over 16 million people – mainly owner occupied, middle aged and older households - live in under-occupied housing.
Growing numbers of 45-64 year olds, and 65-74 year olds are living alone, with 6 million people living in houses with two or more excess bedrooms.
At the event we explored these trends and consider how policymakers should respond.
We heard presentations from:
- Sally Randall, Director, Housing Standards and Support, Department for Communities and Local Government
- Nigel Wilson, Group Chief Executive, Legal & General;
- Dr Brian Beach, Research Fellow, ILC-UK
The 4th April 2016 marks ten years to the day after the final report of the Pension Commission. The Pensions Commission painted a future where individuals would need to do a combination of working longer, saving more, or paying more tax. The Commission argued that a failure to act would lead to poorer pensioners.
This ILC-UK analysis highlights positive progress in extending working lives, preventing pensioner poverty and getting more people into saving. But the think tank warns of complacency and paints a bleak picture for future pensioners.
This analysis, published on its website finds that since the Pensions Commission:
* The average age of exit from the labour force is increasing but it is still below what it was in the 1960s and 1970s.
* In fact, the average time spent in retirement continues to increase.
* Auto-enrolment has delivered a growing number of employees with workplace pensions.
* But median contribution rates are low and a growing proportion of us have no savings. Final Salary pension coverage continues to fall.
* Younger people are less well placed than previous generations to save and may attract lower long term returns on their savings.
* Effective tax rates have been falling but have increased more recently.
* Spending on pensioner benefits slightly above the long run average as a percentage of GDP
Demographic change means that more people will live past the point where they require care. As the increase in life expectancy looks set to continue, we need to develop enterprising and innovative ways to help people save and plan for this eventuality and bring new money into the care system. If people are to save for their future, especially people who are on lower incomes or are less wealthy, it is essential that they have opportunities to do so in a way that is simple, attractive, engaging, and safe, and which provides them with more choice about the care and support they would like. Equally, they must not be penalised for having done so through means tested support. This is what Personal Care Savings Bonds are intended to be all about.
The end of the beginning: Private defined benefit pensions and the new normalILC- UK
Held on Wednesday, 18th January 2017 in the House of Lords, this event launched the ILC-UK report 'The end of the beginning? Private defined benefit pensions and the new normal'.
The Financial Services Consumer Panel, (FSCP) recently published a report which argued that the annuity market does not work well for the majority of consumers. The Panel felt that the “complex market” was “failing to deliver good outcomes for many consumers”.
The value of annuities is increasingly being questioned by journalists and opinion formers. Rates are improving but have been relatively low and too few individuals exercise choice or have access to the advice they need. Those in favour of other alternative income options, such as income drawdown, have signalled that it is the end of annuities. Yet, annuities offer significant benefits over other forms of pension income. A guaranteed income for life is considered a better option by some customers.
The debate, sponsored by Legal & General, a leading annuity provider, in conjunction with the International Longevity Centre - UK (ILC-UK) was held in the House of Lords, on Thursday 30 January 2014.
During the event we explored what the industry, government and the regulator needs to do to respond to the FSCP challenges and whether annuities are still fit for purpose. Or does the industry need to innovate in product design and access to flexible solutions that meet future customers’ expectations?
The event, chaired by Baroness Sally Greengross, firstly presented the views of a panel of six leading representatives from across the industry who have an interest in the at retirement market outlining whether they believe that annuities are still fit for purposes and if not, what other options they believe should be considered.
The panel included Sue Lewis, Chair of the Financial Services Consumer Panel; Dan Hyde, Personal Finance Editor of the Daily Telegraph; Tom McPhail, Head of Research at Hargreaves Lansdown and Chair of Pension Income Choice Association (PICA); Ros Altmann, Economist and former Downing Street adviser; Jane Vass, Head of Public Policy at Age UK and Tim Gosden, Head of Strategy for Legal & General’s individual annuity business.
Following the panel presentation the debate was then opened to the invited audience which included parliamentarians and senior representatives from across the industry. Senior representatives of charities, think tanks, government departments, regulators and selected media contacts who regularly write on this subject, were also invited.
Debt and problem debt among older people 4june13 - presentationILC- UK
Debt is commonly assumed to be a problem of the young and not of the old. New research carried out by ILC-UK and supported by Age UK examines the validity of this assumption and sets out the extent to which debt impacts on the lives of older people.
Over recent years, older people, in common with other age groups, have faced significant financial challenges. For older people, lower than expected returns on savings and decreases in annuity rates have reduced the income many retirees were expecting in later life. Increases in energy and food costs are also hitting older people on fixed incomes hard, while older workers are faced with unprecedented job and income insecurity. Could these new challenges have influenced the attitudes and behaviours of older people towards credit usage? And just how accurate are cosy depictions of older people as ‘squirreling savers shunning credit’ compared to the reality?
This new research explores the way in which attitudes towards borrowing vary by age before presenting new findings on levels of problem debt among older people. The characteristics associated with entering problem debt are explored in this research, as well as the outcomes of living with problem debt on the lives of older people.
Dr Dylan Kneale, Head of Research at ILC-UK, presented the findings of the research. Dr Stella Creasy MP, known for her parliamentary work around the field of debt, was a keynote speaker, while Sally West, Income and Poverty Strategy Adviser at Age UK, provided insight into the organisation’s work in providing debt counselling and advice for older people. Tom Wright, Chief Executive of Age UK, and Baroness Sally Greengross, Chief executive of ILC-UK, co-chaired the event and all took part in a panel debate after presentations.
27Mar14 - Community Matters Semiar Series - At Home - ppt presentation ILC- UK
The slides from the second in a series of three seminars from ILC-UK and Age UK on Community Matters - are our communities ready for ageing?
Full details here: http://www.ilcuk.org.uk/index.php/events/community_matters_are_our_communities_ready_for_ageing._at_home
On the 12th October 2016, the ILC-UK held a Housing in an Ageing Society event, kindly hosted by Legal & General and supported by the ILC-UK Partners Programme.
On Tuesday, 19th July the International Longevity Centre - UK (ILC-UK) launched our “Housing in an ageing society” factpack with the support of FirstPort.
The report found a significant increase in older people living alone, yet millions were failing to adapt their homes to help them live independently.
The State of the Nation’s Housing’ reports that:Only around half of those over 50s experiencing limitations in Activities of Daily Living, live in homes with any adaptations.
Those in retirement housing are significantly more likely to be living in homes with adaptations than those who do not. Approximately 87% of those in retirement housing have home adaptations, by comparison to around 60% of other housing.
There could be a retirement housing gap of 160,000 by 2030 if current trends continue. By 2050, the gap could grow to 376,000.
Over 16 million people – mainly owner occupied, middle aged and older households - live in under-occupied housing.
Growing numbers of 45-64 year olds, and 65-74 year olds are living alone, with 6 million people living in houses with two or more excess bedrooms.
At the event we explored these trends and consider how policymakers should respond.
We heard presentations from:
- Sally Randall, Director, Housing Standards and Support, Department for Communities and Local Government
- Nigel Wilson, Group Chief Executive, Legal & General;
- Dr Brian Beach, Research Fellow, ILC-UK
The 4th April 2016 marks ten years to the day after the final report of the Pension Commission. The Pensions Commission painted a future where individuals would need to do a combination of working longer, saving more, or paying more tax. The Commission argued that a failure to act would lead to poorer pensioners.
This ILC-UK analysis highlights positive progress in extending working lives, preventing pensioner poverty and getting more people into saving. But the think tank warns of complacency and paints a bleak picture for future pensioners.
This analysis, published on its website finds that since the Pensions Commission:
* The average age of exit from the labour force is increasing but it is still below what it was in the 1960s and 1970s.
* In fact, the average time spent in retirement continues to increase.
* Auto-enrolment has delivered a growing number of employees with workplace pensions.
* But median contribution rates are low and a growing proportion of us have no savings. Final Salary pension coverage continues to fall.
* Younger people are less well placed than previous generations to save and may attract lower long term returns on their savings.
* Effective tax rates have been falling but have increased more recently.
* Spending on pensioner benefits slightly above the long run average as a percentage of GDP
Demographic change means that more people will live past the point where they require care. As the increase in life expectancy looks set to continue, we need to develop enterprising and innovative ways to help people save and plan for this eventuality and bring new money into the care system. If people are to save for their future, especially people who are on lower incomes or are less wealthy, it is essential that they have opportunities to do so in a way that is simple, attractive, engaging, and safe, and which provides them with more choice about the care and support they would like. Equally, they must not be penalised for having done so through means tested support. This is what Personal Care Savings Bonds are intended to be all about.
The end of the beginning: Private defined benefit pensions and the new normalILC- UK
Held on Wednesday, 18th January 2017 in the House of Lords, this event launched the ILC-UK report 'The end of the beginning? Private defined benefit pensions and the new normal'.
The Financial Services Consumer Panel, (FSCP) recently published a report which argued that the annuity market does not work well for the majority of consumers. The Panel felt that the “complex market” was “failing to deliver good outcomes for many consumers”.
The value of annuities is increasingly being questioned by journalists and opinion formers. Rates are improving but have been relatively low and too few individuals exercise choice or have access to the advice they need. Those in favour of other alternative income options, such as income drawdown, have signalled that it is the end of annuities. Yet, annuities offer significant benefits over other forms of pension income. A guaranteed income for life is considered a better option by some customers.
The debate, sponsored by Legal & General, a leading annuity provider, in conjunction with the International Longevity Centre - UK (ILC-UK) was held in the House of Lords, on Thursday 30 January 2014.
During the event we explored what the industry, government and the regulator needs to do to respond to the FSCP challenges and whether annuities are still fit for purpose. Or does the industry need to innovate in product design and access to flexible solutions that meet future customers’ expectations?
The event, chaired by Baroness Sally Greengross, firstly presented the views of a panel of six leading representatives from across the industry who have an interest in the at retirement market outlining whether they believe that annuities are still fit for purposes and if not, what other options they believe should be considered.
The panel included Sue Lewis, Chair of the Financial Services Consumer Panel; Dan Hyde, Personal Finance Editor of the Daily Telegraph; Tom McPhail, Head of Research at Hargreaves Lansdown and Chair of Pension Income Choice Association (PICA); Ros Altmann, Economist and former Downing Street adviser; Jane Vass, Head of Public Policy at Age UK and Tim Gosden, Head of Strategy for Legal & General’s individual annuity business.
Following the panel presentation the debate was then opened to the invited audience which included parliamentarians and senior representatives from across the industry. Senior representatives of charities, think tanks, government departments, regulators and selected media contacts who regularly write on this subject, were also invited.
Debt and problem debt among older people 4june13 - presentationILC- UK
Debt is commonly assumed to be a problem of the young and not of the old. New research carried out by ILC-UK and supported by Age UK examines the validity of this assumption and sets out the extent to which debt impacts on the lives of older people.
Over recent years, older people, in common with other age groups, have faced significant financial challenges. For older people, lower than expected returns on savings and decreases in annuity rates have reduced the income many retirees were expecting in later life. Increases in energy and food costs are also hitting older people on fixed incomes hard, while older workers are faced with unprecedented job and income insecurity. Could these new challenges have influenced the attitudes and behaviours of older people towards credit usage? And just how accurate are cosy depictions of older people as ‘squirreling savers shunning credit’ compared to the reality?
This new research explores the way in which attitudes towards borrowing vary by age before presenting new findings on levels of problem debt among older people. The characteristics associated with entering problem debt are explored in this research, as well as the outcomes of living with problem debt on the lives of older people.
Dr Dylan Kneale, Head of Research at ILC-UK, presented the findings of the research. Dr Stella Creasy MP, known for her parliamentary work around the field of debt, was a keynote speaker, while Sally West, Income and Poverty Strategy Adviser at Age UK, provided insight into the organisation’s work in providing debt counselling and advice for older people. Tom Wright, Chief Executive of Age UK, and Baroness Sally Greengross, Chief executive of ILC-UK, co-chaired the event and all took part in a panel debate after presentations.
27Mar14 - Community Matters Semiar Series - At Home - ppt presentation ILC- UK
The slides from the second in a series of three seminars from ILC-UK and Age UK on Community Matters - are our communities ready for ageing?
Full details here: http://www.ilcuk.org.uk/index.php/events/community_matters_are_our_communities_ready_for_ageing._at_home
Throughout 2014, ILC-UK, supported by specialist insurance company, Partnership Assurance Group plc, is undertaking a series of events to explore the relationship between our changing demography and public policy.
The fourth event in this 'Population Patterns Seminar Series' considered the findings of our ‘Factpack’ of UK demographic statistics.
We all know that people are living longer but how is that likely to change our society? How will pensions be affected? How will we care for our growing older society when the traditional “working age” population is shrinking?
These types of debates are increasingly being played out in the media and in political circles but in order for such debates to be productive, they have to be well informed.
ILC-UK believes its 2014 ‘Factpack’ will support this process by highlighting the most recent evidence of our rapidly ageing society. Not only does it provide statistics on a range of critical topics from life expectancy to housing supply; and pensions to long-term care, it also includes a special focus on the current and potential future state of pensioner poverty.
The event was chaired by Baroness Sally Greengross (ILC-UK) with a welcome from Steve Haberman (Dean of the Cass Business School). We were delighted that Gregg McClymont MP, Shadow Minister (Work and Pensions), spoke at at the launch event. We also heard presentations from Professor Les Mayhew (Professor of Statistics, Cass Business School), Steve Groves (Chief Executive of Partnership), Ben Franklin (Research Fellow at ILC-UK) and a response from Tom Younger of the Department for Work and Pensions.
During the discussion we explored:
How the UK’s demography has changed since the release of the 2013 Factpack and how it might change in the future,
How demographic change is reshaping our society,
The challenge of pensioner poverty,
Regional variations in the experiences of older people,
How policy makers should respond to these findings.
Agenda
16:00 - 16:30 Registration
16:30 - 16:35 Welcome by Chair, Baroness Sally Greengross (ILC-UK)
16:35 - 16:40 Welcome by the Dean of Cass Business School, Professor Stete Habberman
16:40 - 16:50 Presentation from Richard Willets (Partnership)
16:50 - 17:10 Presentation from Gregg McClymont MP (Shadow Minister for Work and Pensions)
17:10 - 17:20 Presentation from Ben Franklin (ILC-UK)
17:20 - 17:30 Presentation from Professor Les Mayhew (Cass Business School) Presentation
17:30 - 17:35 Response from Tom Younger (Department for Work and Pensions)
17:35 - 18:25 Discussion/Q&A
18:25 - 18:30 Close by Chair, Baroness Sally Greengross (ILC-UK)
18:30 - 19:15 Drinks reception
Many older people have equity tied up in their homes that could be used to provide them with a greater income in later life and improve their standard of living. Traditionally, the ways to unlock the equity in people’s homes have been through downsizing, equity release lifetime loans or home reversion plans. However, not everyone is in a position to downsize, there are pros and cons to each approach, and all have associated costs.
The Equity Bank would provide a new way for people to unlock the equity in their home. It would be a state agency which provides people with a low cost fixed lifetime income in exchange for a fixed share of the equity in their home. The Equity Bank would take a charge on the person’s home and recover the value of the equity from the person’s estate after their death.
The event was chaired by Baroness Sally Greengross, Chief Executive of the ILC-UK. Nick Kirwan, Director of the ILC-UK Care Funding Advice Network, opened the discussion. Professor Les Mayhew of Cass Business School and co-author of the paper 'The UK Equity Bank - Towards income security in old age' thened present the concept, after which Paul Burstow MP responded. There was then time for questions and a general discussion.
Should we forget about ‘the older consumer’? An expert roundtable on market s...ILC- UK
In an ageing society, understanding and engaging with ‘the older consumer’ is of pressing interest for businesses who want to realise the potential of the market. But it is not an easy market to understand or describe.
A key issue to be addressed by marketers is to avoid a homogenisation of older people. The diversity of consumer spending of this group is often lost in ageist perceptions of ‘what older people want’. Despite this however, it remains to be seen if the commonalities of ageing – such as wealth depletion and physiological changes – nudge older people to gravitate to a norm.
In Dec 2010, ILC-UK and the Personal Finance Resource Centre (PFRC) at the University of Bristol published a report which explored what and how older people spent their income (Consumption Patterns Among Older Consumers). The evidence from this report fed into the ILC-UK report for Age UK on older consumers (The Golden Economy).
ILC-UK and PFRC have teamed up again to further explore issues around consumption and old age, funded by the Economic and Social Research Council Secondary Data Analysis Initiative. At this seminar we presented new evidence which explores patterns of expenditure among older people and considers what explains these.
During the seminar we:
Considered how our spending varies as we age, including setting out average and overall spending by age group;
Segmented older households based on their patterns of expenditure;
Considered the validity of a single ‘older consumer’ model.
Paying for long term care insurance: The pros and cons of different payment m...ILC- UK
As the population of the UK continues to age, the demand for social care increases, as do the associated costs. How to pay for long term care is therefore a hot topic in the insurance world and amongst policy makers.
This event will saw the launch of a new paper from the ILC-UK and Cass Business School which investigates different ways in which individuals can purchase and pay for insurance products specifically to help them to pay for their care costs in later life.
Chaired by Baroness Sally Greengross OBE, Chief Executive of the ILC-UK, the launch included a keynote presentation report co-author Professor Les Mayhew. Responses were given by Jules Constantinou, Regional Manager, Gen Re Life/Health; Brian Fisher, Aviva/Friends Life, and Steve Lowe, Just.
Policy Debate: Longevity, health and public policy. How should policy-makers ...ILC- UK
Launch of ILC-UK Factpack, Ageing, longevity and demographic change, Supported by Legal & General
his important briefing event, for journalists and senior policy-makers and opinion formers, set out the latest evidence on longevity and explore the extent to which government and business (financial services industry) is responding to the challenges. We will consider the extent to which longevity is influencing government and business decisions and how media and policy-makers can help to ensure that important longevity issues are taken into account.
For example, the Government has set out plans to increase the state pension age to 66 years from 2018, and 67 years from 2026. They have also announced plans to automatically link state pension age with increased longevity.
Whilst the driver of change has partly been the need for Government to cut spending and make fiscal savings, there is also a recognition that people will be spending an increasing proportion of their lives in retirement. Although we may be living longer on average, many are likely to be doing so in poor health. In parts of the country life expectancy is much lower than the UK average.
In addition, on 26th June the Government will announce its latest spending review. The impact of future spending demands of an ageing society will undoubtedly influence this review so the event will consider the extent to which Government’s current spending priorities have adequately taken into account long term demographic change and how the private sector can contribute.
The event took place just after the launch of the latest Office of Budget Responsibility fiscal sustainability report which set out the long term impact of ageing on fiscal sustainability. In its 2012 report, the OBR said; “The public finances are likely to come under pressure over the longer term, primarily as a result of an ageing population.”
ILC-UK launched a new factpack, Ageing, longevity and demographic change, which has been produced with the support of Legal & General. The factpack will help those with an interest in population ageing and longevity to quickly access key, relevant statistics.
Speakers: Baroness Sally Greengross, ILC-UK; Kerrigan Procter, Legal & General; Joseph Lu, Legal & General; Professor Les Mayhew, Cass Business School; Professor Michael Murphy, London School of Economics; Tim Gosden, Legal & General; David Sinclair, ILC-UK.
At the end of February 2012, ILC-UK, with the support of Partnership, published a report which explored the impact of the Retail Distribution Review (RDR) on people with small pension pots.
Whilst the report supported the principles of the RDR, it expressed worries about the creation of an ‘advice gap’ where the poorest and least well-off pensioners might fail to receive critical financial advice.
Since the publication of the report, Government, the FSA and HM Treasury have taken forward a number of positive policy initiatives, some of which addressed some of the issues in the ILC-UK report. The ABI has developed a new code of conduct for members which will support the consumer to take the open market option. The DWP has been developing “operation big pension pot”. And the FSA has published guidance on simplified advice.
However, the problems highlighted in the ILC-UK report are far from solved and there remain a number of immediate challenges. The combination of the end of compulsory annuitisation, the introduction of the RDR, the growth in the number of small pension pots and the introduction of auto enrolment will require further policy action in the short term, and certainly before 1 January 2013.
This summit was convened with a view of creating a policy consensus to tackle the challenges ahead. Following the Summit, ILC-UK will publish a report which sets out the recommendations which emerge from the event.
The Retirement Income Summit focused on three specific themes. Senior representatives from Government, industry and consumer organisations debated
Post RDR financial advice may be beyond the means of the average person. How can we fill the advice gap?
People with average sized pension pots are entitled to reasonable outcomes. How can we improve the pensions annuity process for the consumer and industry?
Good regulation protects the consumer but it must not inadvertently damage the potential of products and services to increase pensioner income? How can we ensure that the length and complexity of communications required by legislation does not damage communications?
31Mar14 - Understanding wellbeing in old age across the world: lessons from a...ILC- UK
Global ageing is calling into question the differences between developed and developing countries.
Developing countries are seeing a growth of non-communicable diseases usually associated with affluence in wealthier countries: obesity; diabetes; cancer; heart disease; dementia; among others.
Urbanisation is posing significant challenges and opportunities, but countries like China are also seeing vast areas of rural hinterland with an increasingly ageing population.
At the same time, a complex picture of wealth and financial satisfaction is emerging across the world. The global economy is more heavily interlinked than ever before with the future economic success of the UK and wealthier countries likely to rely on the success of development in lower and middle income countries. There is a very positive story to tell about wellbeing in developing countries which is rarely heard.
Across the world, transitions are varying in pace, but a common factor facing most parts is ageing.
Focussing on ageing makes good development sense, a fact that policymakers are increasingly recognising. There has been growing interest from academics and policy makers in exploring how to best compare the impact of ageing in a global context.
HelpAge International's Global AgeWatch Index ranks countries by how well their ageing populations are faring.
The EC and UN supported Active Ageing Index (AAI) is an analytical tool that aims to help policy makers produce policies for active and healthy ageing.
The Global Aging Preparedness Index (GAP) was developed by the Center for Strategic and International Studies’ with financial support from Prudential plc. The GAP Index seeks to inform the policy debate about global aging and focus attention on the need for constructive reform.
Following introductory remarks from Chris Roles of Age International, Jessica Watson of ILC-UK presented new work using a major international dataset – the World Values Survey – about levels of self-reported financial satisfaction. Analysing data from 56 countries over six continents, these findings throw new light on levels of financial satisfaction within and between countries. This analysis has been made possible by the ESRC SDAI initiative
On Wednesday 14th December 2016, we launched a paper which reviews the present and proposed formula for means-testing adult social care in England.
In 2011, the Dilnot Commission recommended a cap of £35,000 on adult social care costs, and that the threshold for means-tested assistance be raised from £23,250 to £100,000 for those in residential care. This new paper by Cass Business School reviews the present formula for means-testing adult social care and the formula recommended by the Dilnot Commission, and finds fault with both.
Chaired by Baroness Sally Greengross OBE, Chief Executive of the ILC-UK, the launch included a keynote presentation from report author, Professor Les Mayhew, Professor of Statistics, Faculty of Actuarial Science and Insurance, Cass Business School, and a response from an expert panel of actuaries and related professionals.
Household Capital was formed to improve the retirement outcomes of Australian retirees. Our mission
is to help Australians Live Well At Home. Industry leaders have come together in support of this
mission. Household Capital draws on deep expertise from many related fields across its board of
directors, advisory board and executive team including: retirement policy experts; economists and
actuaries; finance and banking executives; longevity and healthcare professionals; property and
investment managers; technology and innovation entrepreneurs. This whitepaper sets out the data,
purpose and rationale for our mission.
Twitter storm: Connective action to support the UCU strikeScottRodgers28
Slides from Twitter Storm! digital meetup on 1 December 2021, on how Twitter might fit into what we're doing in this strike action and beyond (particularly but not only at Birkbeck, University of London).
PPI the uk-pensions-framework-showcase-slidesHenry Tapper
PPI - UK Pensions Framework
It's the Pension Policy Institute's's 20th birthday this year and it has marked that achievement with the creation of a new pension framework. This is how the PPI publicises it.
Purpose
The PPI’s UK Pensions Framework aims to support the development of the future of
pensions policy by allowing stakeholders a coordinated and holistic view of changes across
the system for the first time. The Framework also goes beyond a one-dimensional view of
changes by showing how policy reforms are affecting key parties, what secondary effects
may occur and where trade-offs might exist.
Measures - adequacy, sustainability and fairness
The framework analysis is structured around three interdependent objectives, each of
which is integral to the overall goal of the pension system - helping people to achieve
financial security in later life. They are adequacy, sustainability and fairness.
Design Principles
This publication sets out the design principles of the framework and the process by which
it was constructed. The process included consultation with over 70 key pensions policy
stakeholders. Next year, the PPI will publish the first edition of the UK Pensions
Framework, setting out full analysis of how the UK pension system is working to support
retirement outcomes that are adequate, sustainable and fair.
Use
From thereon, the framework will be a dynamic instrument, tracking changes each year
and simulating the effect of potential shifts or reforms on the system. The analysis will
provide policy-makers a comprehensive understanding of how each potential change might affect other elements of the system, and ultimately the experiences that people in the UK have in later life.”
There is a detailed report as to how their Pension Franework came into being which you can download from here.
I'm proud to have been one of 70 people who the PPI called on for input in this over 2021, I look forward to seeing it in use next year and will be relying on it for future blogs.
Happy 20th anniversary PPI!
Throughout 2014, ILC-UK, supported by specialist insurance company, Partnership Assurance Group plc, is undertaking a series of events to explore the relationship between our changing demography and public policy.
The fourth event in this 'Population Patterns Seminar Series' considered the findings of our ‘Factpack’ of UK demographic statistics.
We all know that people are living longer but how is that likely to change our society? How will pensions be affected? How will we care for our growing older society when the traditional “working age” population is shrinking?
These types of debates are increasingly being played out in the media and in political circles but in order for such debates to be productive, they have to be well informed.
ILC-UK believes its 2014 ‘Factpack’ will support this process by highlighting the most recent evidence of our rapidly ageing society. Not only does it provide statistics on a range of critical topics from life expectancy to housing supply; and pensions to long-term care, it also includes a special focus on the current and potential future state of pensioner poverty.
The event was chaired by Baroness Sally Greengross (ILC-UK) with a welcome from Steve Haberman (Dean of the Cass Business School). We were delighted that Gregg McClymont MP, Shadow Minister (Work and Pensions), spoke at at the launch event. We also heard presentations from Professor Les Mayhew (Professor of Statistics, Cass Business School), Steve Groves (Chief Executive of Partnership), Ben Franklin (Research Fellow at ILC-UK) and a response from Tom Younger of the Department for Work and Pensions.
During the discussion we explored:
How the UK’s demography has changed since the release of the 2013 Factpack and how it might change in the future,
How demographic change is reshaping our society,
The challenge of pensioner poverty,
Regional variations in the experiences of older people,
How policy makers should respond to these findings.
Agenda
16:00 - 16:30 Registration
16:30 - 16:35 Welcome by Chair, Baroness Sally Greengross (ILC-UK)
16:35 - 16:40 Welcome by the Dean of Cass Business School, Professor Stete Habberman
16:40 - 16:50 Presentation from Richard Willets (Partnership)
16:50 - 17:10 Presentation from Gregg McClymont MP (Shadow Minister for Work and Pensions)
17:10 - 17:20 Presentation from Ben Franklin (ILC-UK)
17:20 - 17:30 Presentation from Professor Les Mayhew (Cass Business School) Presentation
17:30 - 17:35 Response from Tom Younger (Department for Work and Pensions)
17:35 - 18:25 Discussion/Q&A
18:25 - 18:30 Close by Chair, Baroness Sally Greengross (ILC-UK)
18:30 - 19:15 Drinks reception
Many older people have equity tied up in their homes that could be used to provide them with a greater income in later life and improve their standard of living. Traditionally, the ways to unlock the equity in people’s homes have been through downsizing, equity release lifetime loans or home reversion plans. However, not everyone is in a position to downsize, there are pros and cons to each approach, and all have associated costs.
The Equity Bank would provide a new way for people to unlock the equity in their home. It would be a state agency which provides people with a low cost fixed lifetime income in exchange for a fixed share of the equity in their home. The Equity Bank would take a charge on the person’s home and recover the value of the equity from the person’s estate after their death.
The event was chaired by Baroness Sally Greengross, Chief Executive of the ILC-UK. Nick Kirwan, Director of the ILC-UK Care Funding Advice Network, opened the discussion. Professor Les Mayhew of Cass Business School and co-author of the paper 'The UK Equity Bank - Towards income security in old age' thened present the concept, after which Paul Burstow MP responded. There was then time for questions and a general discussion.
Should we forget about ‘the older consumer’? An expert roundtable on market s...ILC- UK
In an ageing society, understanding and engaging with ‘the older consumer’ is of pressing interest for businesses who want to realise the potential of the market. But it is not an easy market to understand or describe.
A key issue to be addressed by marketers is to avoid a homogenisation of older people. The diversity of consumer spending of this group is often lost in ageist perceptions of ‘what older people want’. Despite this however, it remains to be seen if the commonalities of ageing – such as wealth depletion and physiological changes – nudge older people to gravitate to a norm.
In Dec 2010, ILC-UK and the Personal Finance Resource Centre (PFRC) at the University of Bristol published a report which explored what and how older people spent their income (Consumption Patterns Among Older Consumers). The evidence from this report fed into the ILC-UK report for Age UK on older consumers (The Golden Economy).
ILC-UK and PFRC have teamed up again to further explore issues around consumption and old age, funded by the Economic and Social Research Council Secondary Data Analysis Initiative. At this seminar we presented new evidence which explores patterns of expenditure among older people and considers what explains these.
During the seminar we:
Considered how our spending varies as we age, including setting out average and overall spending by age group;
Segmented older households based on their patterns of expenditure;
Considered the validity of a single ‘older consumer’ model.
Paying for long term care insurance: The pros and cons of different payment m...ILC- UK
As the population of the UK continues to age, the demand for social care increases, as do the associated costs. How to pay for long term care is therefore a hot topic in the insurance world and amongst policy makers.
This event will saw the launch of a new paper from the ILC-UK and Cass Business School which investigates different ways in which individuals can purchase and pay for insurance products specifically to help them to pay for their care costs in later life.
Chaired by Baroness Sally Greengross OBE, Chief Executive of the ILC-UK, the launch included a keynote presentation report co-author Professor Les Mayhew. Responses were given by Jules Constantinou, Regional Manager, Gen Re Life/Health; Brian Fisher, Aviva/Friends Life, and Steve Lowe, Just.
Policy Debate: Longevity, health and public policy. How should policy-makers ...ILC- UK
Launch of ILC-UK Factpack, Ageing, longevity and demographic change, Supported by Legal & General
his important briefing event, for journalists and senior policy-makers and opinion formers, set out the latest evidence on longevity and explore the extent to which government and business (financial services industry) is responding to the challenges. We will consider the extent to which longevity is influencing government and business decisions and how media and policy-makers can help to ensure that important longevity issues are taken into account.
For example, the Government has set out plans to increase the state pension age to 66 years from 2018, and 67 years from 2026. They have also announced plans to automatically link state pension age with increased longevity.
Whilst the driver of change has partly been the need for Government to cut spending and make fiscal savings, there is also a recognition that people will be spending an increasing proportion of their lives in retirement. Although we may be living longer on average, many are likely to be doing so in poor health. In parts of the country life expectancy is much lower than the UK average.
In addition, on 26th June the Government will announce its latest spending review. The impact of future spending demands of an ageing society will undoubtedly influence this review so the event will consider the extent to which Government’s current spending priorities have adequately taken into account long term demographic change and how the private sector can contribute.
The event took place just after the launch of the latest Office of Budget Responsibility fiscal sustainability report which set out the long term impact of ageing on fiscal sustainability. In its 2012 report, the OBR said; “The public finances are likely to come under pressure over the longer term, primarily as a result of an ageing population.”
ILC-UK launched a new factpack, Ageing, longevity and demographic change, which has been produced with the support of Legal & General. The factpack will help those with an interest in population ageing and longevity to quickly access key, relevant statistics.
Speakers: Baroness Sally Greengross, ILC-UK; Kerrigan Procter, Legal & General; Joseph Lu, Legal & General; Professor Les Mayhew, Cass Business School; Professor Michael Murphy, London School of Economics; Tim Gosden, Legal & General; David Sinclair, ILC-UK.
At the end of February 2012, ILC-UK, with the support of Partnership, published a report which explored the impact of the Retail Distribution Review (RDR) on people with small pension pots.
Whilst the report supported the principles of the RDR, it expressed worries about the creation of an ‘advice gap’ where the poorest and least well-off pensioners might fail to receive critical financial advice.
Since the publication of the report, Government, the FSA and HM Treasury have taken forward a number of positive policy initiatives, some of which addressed some of the issues in the ILC-UK report. The ABI has developed a new code of conduct for members which will support the consumer to take the open market option. The DWP has been developing “operation big pension pot”. And the FSA has published guidance on simplified advice.
However, the problems highlighted in the ILC-UK report are far from solved and there remain a number of immediate challenges. The combination of the end of compulsory annuitisation, the introduction of the RDR, the growth in the number of small pension pots and the introduction of auto enrolment will require further policy action in the short term, and certainly before 1 January 2013.
This summit was convened with a view of creating a policy consensus to tackle the challenges ahead. Following the Summit, ILC-UK will publish a report which sets out the recommendations which emerge from the event.
The Retirement Income Summit focused on three specific themes. Senior representatives from Government, industry and consumer organisations debated
Post RDR financial advice may be beyond the means of the average person. How can we fill the advice gap?
People with average sized pension pots are entitled to reasonable outcomes. How can we improve the pensions annuity process for the consumer and industry?
Good regulation protects the consumer but it must not inadvertently damage the potential of products and services to increase pensioner income? How can we ensure that the length and complexity of communications required by legislation does not damage communications?
31Mar14 - Understanding wellbeing in old age across the world: lessons from a...ILC- UK
Global ageing is calling into question the differences between developed and developing countries.
Developing countries are seeing a growth of non-communicable diseases usually associated with affluence in wealthier countries: obesity; diabetes; cancer; heart disease; dementia; among others.
Urbanisation is posing significant challenges and opportunities, but countries like China are also seeing vast areas of rural hinterland with an increasingly ageing population.
At the same time, a complex picture of wealth and financial satisfaction is emerging across the world. The global economy is more heavily interlinked than ever before with the future economic success of the UK and wealthier countries likely to rely on the success of development in lower and middle income countries. There is a very positive story to tell about wellbeing in developing countries which is rarely heard.
Across the world, transitions are varying in pace, but a common factor facing most parts is ageing.
Focussing on ageing makes good development sense, a fact that policymakers are increasingly recognising. There has been growing interest from academics and policy makers in exploring how to best compare the impact of ageing in a global context.
HelpAge International's Global AgeWatch Index ranks countries by how well their ageing populations are faring.
The EC and UN supported Active Ageing Index (AAI) is an analytical tool that aims to help policy makers produce policies for active and healthy ageing.
The Global Aging Preparedness Index (GAP) was developed by the Center for Strategic and International Studies’ with financial support from Prudential plc. The GAP Index seeks to inform the policy debate about global aging and focus attention on the need for constructive reform.
Following introductory remarks from Chris Roles of Age International, Jessica Watson of ILC-UK presented new work using a major international dataset – the World Values Survey – about levels of self-reported financial satisfaction. Analysing data from 56 countries over six continents, these findings throw new light on levels of financial satisfaction within and between countries. This analysis has been made possible by the ESRC SDAI initiative
On Wednesday 14th December 2016, we launched a paper which reviews the present and proposed formula for means-testing adult social care in England.
In 2011, the Dilnot Commission recommended a cap of £35,000 on adult social care costs, and that the threshold for means-tested assistance be raised from £23,250 to £100,000 for those in residential care. This new paper by Cass Business School reviews the present formula for means-testing adult social care and the formula recommended by the Dilnot Commission, and finds fault with both.
Chaired by Baroness Sally Greengross OBE, Chief Executive of the ILC-UK, the launch included a keynote presentation from report author, Professor Les Mayhew, Professor of Statistics, Faculty of Actuarial Science and Insurance, Cass Business School, and a response from an expert panel of actuaries and related professionals.
Household Capital was formed to improve the retirement outcomes of Australian retirees. Our mission
is to help Australians Live Well At Home. Industry leaders have come together in support of this
mission. Household Capital draws on deep expertise from many related fields across its board of
directors, advisory board and executive team including: retirement policy experts; economists and
actuaries; finance and banking executives; longevity and healthcare professionals; property and
investment managers; technology and innovation entrepreneurs. This whitepaper sets out the data,
purpose and rationale for our mission.
Twitter storm: Connective action to support the UCU strikeScottRodgers28
Slides from Twitter Storm! digital meetup on 1 December 2021, on how Twitter might fit into what we're doing in this strike action and beyond (particularly but not only at Birkbeck, University of London).
PPI the uk-pensions-framework-showcase-slidesHenry Tapper
PPI - UK Pensions Framework
It's the Pension Policy Institute's's 20th birthday this year and it has marked that achievement with the creation of a new pension framework. This is how the PPI publicises it.
Purpose
The PPI’s UK Pensions Framework aims to support the development of the future of
pensions policy by allowing stakeholders a coordinated and holistic view of changes across
the system for the first time. The Framework also goes beyond a one-dimensional view of
changes by showing how policy reforms are affecting key parties, what secondary effects
may occur and where trade-offs might exist.
Measures - adequacy, sustainability and fairness
The framework analysis is structured around three interdependent objectives, each of
which is integral to the overall goal of the pension system - helping people to achieve
financial security in later life. They are adequacy, sustainability and fairness.
Design Principles
This publication sets out the design principles of the framework and the process by which
it was constructed. The process included consultation with over 70 key pensions policy
stakeholders. Next year, the PPI will publish the first edition of the UK Pensions
Framework, setting out full analysis of how the UK pension system is working to support
retirement outcomes that are adequate, sustainable and fair.
Use
From thereon, the framework will be a dynamic instrument, tracking changes each year
and simulating the effect of potential shifts or reforms on the system. The analysis will
provide policy-makers a comprehensive understanding of how each potential change might affect other elements of the system, and ultimately the experiences that people in the UK have in later life.”
There is a detailed report as to how their Pension Franework came into being which you can download from here.
I'm proud to have been one of 70 people who the PPI called on for input in this over 2021, I look forward to seeing it in use next year and will be relying on it for future blogs.
Happy 20th anniversary PPI!
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Email can be the most powerful, profitable, and inexpensive marketing tool out there, but the problem is that all of your competitors know this too. And with the amount of emails people get these days your message can easily go unopened, or even to spam. The goal is to get your emails opened right from the moment the subscribers sees it, and there are five steps to get that done. First, regard your subscribers as people instead of wallets, second, make your promotions help solve problems, third, make your email feel like content but also encourage a sale, fourth, write your emails so YOU would open them, and lastly, stay in touch.
David John, Senior Senior Strategic Policy Adviser at AARP’s Public Policy In...ILC- UK
In July 2015, the Government began a consultation on changing how the UK incentivises private pension saving, and the Chancellor is expected to respond to this consultation in the Government’s annual Budget in March 2016.
The Future of Private Pension Saving, kindly supported by Age UK, brought together Parliamentarians, business, academics and industry experts to discuss how best the UK Government can incentivise private pension saving.
The debate was opened by initial remarks from Angela Rayner MP (Shadow Pensions Minister), Jackie Wells (Head of Policy and Research, Pensions and Lifetime Savings Association), Sarah Luheshi (Deputy Director, Pensions Policy Institute), and Yvonne Braun (Director, Long-Term Savings Policy, Association of British Insurers).
On Wednesday 27th January, David John, Senior Strategic Policy Adviser at AARP’s Public Policy Institute, and Deputy Director of the Retirement Security Project at the Brookings institute delivered a presentation on tax incentives for pension saving in the US context at an informal reception hosted by Age UK.
Discussions from this event contributed to a formal representation to the HM Treasury regarding Government policy on pensions tax relief and private pension saving.
The biggest way to make your email campaign more profitable is conversion. 7 of the easiest ways to do that are to write to one person, write consistently, write stronger subject lines, test the length of your email copy, add stores to your email copy, focus on one response per email, and create sequences. In the article we will go over all seven of these and explain how they relate to your email conversion, and eventually, raise your profits.
Village life: Independence, Loneliness, and Quality of Life in Retirement Vil...ILC- UK
On the 19th August, the ILC-UK held a launch event of a new research report “Village life: Independence, Loneliness, and Quality of Life in Retirement Villages with Extra Care” which considers the impact of retirement villages on independence, loneliness and quality of life of residents.
The report incorporates a survey of residents and compares the sample with a comparable group of non-residents living in private housing.
The report has been produced with the support of Bupa and Audley. Anchor provided additional survey respondents.
During the launch, Brian Beach, Research Fellow at ILC-UK, presented the findings of the research. Nick Sanderson, CEO of Audley, and Jeremy Porteus, Founder and Director or Housing LIN (Learning and Improvement Network), responded.
Just a sample of one of our customizable newsletter programs that we license on an area exclusive basis to printers. You brand, print and distribute. Our content will set you apart from your competition.
David Sinclair, ILC-UK's Director, presented at the Age Platform Annual Conference in Brussels in December 2014.
For more information about the conference, please click here:
http://www.age-platform.eu/age-work/age-policy-work/age-friendly-environments/age-work/2300-age-annual-conference-4-december-2014-brussels
Presentation by Joyce Manchester, Chief, Long-Term Analysis Unit, to the Committee on the Long-Run Macro-Economic Effects of the Aging U.S. Population, National Academy of Sciences
How should policymakers respond to the new challenges and opportunities of ag...ILC- UK
Presentation by David Sinclair, Assistant Director of Policy and Communications at ILC-UK, at 'New perspectives on population ageing in Scotland', 4 November 2013 14.00-17.00 as part of the ESRC Festival of Social Science http://www.esrc.ac.uk/news-and-events/events/festival/festival-events/specific-2013/population-ageing.aspx
How stalling life expectancy is impacting the UK economyILCUK
Life expectancy for people aged over 50 has started to fall, new research from the International Longevity Centre – UK (ILC) reveals. The analysis finds that changes to the health and life expectancy of people over 50 will have a significant impact on the economy. The fall in healthy life expectancy will result in more people dropping out of work earlier than anticipated.
ILC, the leading authority on the impact of longevity on society, reveals reveal that:
• Life expectancy for fifty-year-olds is now 2.3 years less than it would have been had the long-established trend continued.
• Every year of lost life expectancy results in 2.6 years less spent in good health.
• A UK man dying at age 80 could expect to spend on average 64.5 years in good health, but if his life expectancy is only 78, he will spend less than 60 years in good health.
ILC point out that a fall in life expectancy is generally preceded by a period of ill health which can vary in length according to pre-existing health conditions, age and other factors.
Presentation to the 2014 Fall Research Conference of the Association of Public Policy and Mangement, by Joyce Manchester, Vermont Legislative Joint Fiscal Office and formerly of CBO, Michael Simpson and Geena Kim, of CBO
Maximising the economic opportunity of ageing - Future of Ageing 2019ILC- UK
In this introductory session at the ILC's fifth Future of Ageing Conference, ILC Director, David Sinclair, set the scene for the conference.
Delegates heard about the new ILC research on the longevity dividend, which sets out the huge economic contribution of older people today and projects potential future economic growth as a result of ageing.
David talked about ILC’s views on how we might realise an even greater longevity dividend for the UK economy, by unlocking the full potential of older adults as consumers and employees.
Download 'Maximising the longevity dividend' from the ILC website - https://ilcuk.org.uk/maximising-the-longevity-dividend/
Find our more about Future of Ageing 2019 - https://ilcuk.org.uk/event-the-future-of-ageing/
Longer-term forecastings - David Turner, Economics Department, OECDOECD Governance
This presentation was made by David Turner, Economics Department, OECD, at the 11th Meeting of OECD PBO & IFIs held in Lisbon, Portugal, on 4-5 February 2019
ILC Future of Ageing 2022 - Prof. Sir Ian Diamond.pptxILCUK1
Presentation slides from Prof Sir Ian Diamond (UK National Statistician) from the ILC-UK Future of Ageing Conference in London, UK, on Thursday 24 November 2022.
Similar to How changes in the rates of migration and variations in the 65+ employment rate can boost uk output (20)
Global launch of the Healthy Ageing and Prevention Index 2nd wave – alongside...ILC- UK
The Healthy Ageing and Prevention Index is an online tool created by ILC that ranks countries on six metrics including, life span, health span, work span, income, environmental performance, and happiness. The Index helps us understand how well countries have adapted to longevity and inform decision makers on what must be done to maximise the economic benefits that comes with living well for longer.
Alongside the 77th World Health Assembly in Geneva on 28 May 2024, we launched the second version of our Index, allowing us to track progress and give new insights into what needs to be done to keep populations healthier for longer.
The speakers included:
Professor Orazio Schillaci, Minister of Health, Italy
Dr Hans Groth, Chairman of the Board, World Demographic & Ageing Forum
Professor Ilona Kickbusch, Founder and Chair, Global Health Centre, Geneva Graduate Institute and co-chair, World Health Summit Council
Dr Natasha Azzopardi Muscat, Director, Country Health Policies and Systems Division, World Health Organisation EURO
Dr Marta Lomazzi, Executive Manager, World Federation of Public Health Associations
Dr Shyam Bishen, Head, Centre for Health and Healthcare and Member of the Executive Committee, World Economic Forum
Dr Karin Tegmark Wisell, Director General, Public Health Agency of Sweden
Redefining lifelong learning webinar presentation slides.pptxILC- UK
We know that we’re living longer, which means many people will also be working for longer. One in seven people over 65 are still employed in the UK, but we’re still seeing challenges in our labour markets.
According to the ILC’s Healthy Ageing and Prevention Index, the UK’s work span is only 31.5 years, ranking the UK 47th out of 121 countries. Skills shortages driven by demographic change are hitting all sectors of the UK’s economy: by 2030, we could see a shortage of 2.6 million workers. On the other hand, if UK employment rates for those aged 50 to 64 matched the rates of those aged 35 to 49, the country’s GDP would increase by more than 5%.
One way to improve work span and employment is through lifelong learning. However, in the UK, as the Learning and Work Institute’s Adult Participation in Learning survey showed, rates of learning continue to fall with age. In 2023, only 36% of people aged 55 to 64, 24% of those aged 65 to 74, and 17% of those aged 75 and over said that they’d taken part in any kind of learning in the past three years.
To better understand the approaches in other countries, we consulted with experts in lifelong learning, both from the UK and globally. ILC's report, in collaboration with Phoenix Insights, Redefining lifelong learning: lessons from across the globe considers the approaches taken in Singapore, Japan, South Korea, Canada, Germany, the Netherlands and Sweden. While each country’s approach is different, and shaped by its wider cultural, political and economic context, there are some common threads including: learning culture; the range of learning opportunities on offer; levels of support and investment; and accessibility
"If only I had"... LV= insights into retirement planning webinarILC- UK
As part of this debate LV= shares the findings from their quarterly Wealth and Wellbeing research programme, which surveys a nationally representative sample of 4,000 adults across the UK on a variety of topics, including their changing attitude to their finances and their wider wellbeing.
Healthy Ageing and Prevention Index - Our impactILC- UK
This year, ILC-UK launched the Healthy Ageing and Prevention Index. This slide deck summarizes what we’ve achieved so far and sets out our plans for 2024 to continue to shape the agenda on global health.
Alongside the G20 Health Ministers’ meeting in Gandhinagar, India, in August, ILC-India and ILC-UK held a joint high-level side event to amplify the importance of healthy ageing and prevention among the G20.
Plugging the gap: Estimating the demand and supply of jobs by sector in 2030ILC- UK
The UK economy could see a shortfall of 2.6 million workers by 2030 – almost twice the workforce of the NHS – as a result of population ageing, the COVID pandemic and Brexit.
These shortfalls will affect the whole economy, with manufacturing, retail, construction, transport, health and social care among the sectors projected to be hardest hit.
To plug these gaps, Government must introduce a comprehensive Workforce Strategy looking at:
How to support people to stay in the workforce for longer, e.g. by supporting healthy workplaces, supporting carers and creating flexible conditions that suit people’s needs.
How to ameliorate childcare costs and reintegrate people into the workforce following timeout for caring or a health need
The role of migration and automation in addressing major workforce gaps
Leaving no one behind: Progress on Life Course Immunisation Roundtable – alon...ILC- UK
Leaving no one behind: Progress on Life Course Immunisation Roundtable – alongside the World Health Assembly
Date: Tuesday 23 May 2023
Time: 13.00 – 14.30 (CET), followed by refreshments
Location: Geneva Press Club, Geneva, Switzerland
Global launch of the Healthy Ageing and Prevention Index alongside the 76th World Health Assembly
Date: Tuesday 23 May 2023
Time: 3.30pm – 4.30pm (CET) launch, followed by networking with refreshments
Location: Geneva Press Club, Geneva, Switzerland
G7 high-level side event in Niigata: Healthy ageing and prevention
Date: Wednesday 10 May 2023
Time: 2.00pm – 3.30pm (JST), followed by networking with refreshments
Location: Niigata, Japan
Vaccine confidence in Central and Eastern Europe working lunchILC- UK
At this exclusive working lunch, we discussed the International Longevity Centre UK’s (ILC-UK) forthcoming report on vaccine confidence in Central & Eastern Europe (CEE).
During this event, we shared the findings from our policy publication on what we think should be the priorities for the G20 in India and the key messages we want to disseminate to ministers and world leaders. We heard from experts on the opportunities and challenges to engage India and the G20 with prevention and healthy ageing and identify further opportunities to maximise our engagement while at the G20 in September.
Final Marathon or sprint launch Les Mayhew slides 19 April.pptxILC- UK
Research by the International Longevity Centre UK (ILC) funded by Bayes Business School — based on Commonwealth Games competitor records since the inaugural event in 1930 — shows large differences in the longevity of medal winners compared to people in the general population that were born in the same year. A report finds that top-level sports people can live over 5 years longer than the rest of the population.
Launching Trial and error: Supporting age diversity in clinical trialsILC- UK
During this virtual event, Esther McNamara, ILC's Senior Health Policy Lead, presents the Trial and error report’s findings and recommendations. A panel of five experts respond to the report and discuss how improved age diversity will benefit patients of all ages.
Report launch - Moving the needle: Improving uptake of adult vaccination in J...ILC- UK
Launch of the Moving the needle report, produced by ILC-UK in partnership with Stripe Partners.
This event was chaired by Dr Noriko Cable, Honorary Senior Research Fellow, Institute of Epidemiology & Health, UCL. Speakers include:
Arabella Trower, Senior Consultant, Stripe Partners
David Sinclair, Chief Executive, ILC-UK
Dr Charles Alessi, Chief Clinical Officer, éditohealth
Jason James, Director General, Daiwa Anglo-Japanese Foundation
Dr Michael Hodin, CEO, Global Coalition on Aging
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
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how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
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BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
How changes in the rates of migration and variations in the 65+ employment rate can boost uk output
1. How changes in the rates of
migration and variations in the 65+
employment rate can boost UK
output
Ben Franklin, International Longevity Centre – UK
@ilcuk
The International Longevity Centre-UK is an independent, non-partisan think-tank
dedicated to addressing issues of longevity, ageing and population change.
2. Previous literature/research
Previous research has focused on the isolated impact of migration or
alternatively changes to the age structure of the population on
economic output (see for example, OBR Fiscal Sustainability reports).
Previous projections of output have assumed a single scenario for
growth in productivity per worker but the impact of migration and
changing age structure on output is likely to be different at different
levels of labour productivity.
Output is also likely to be affected by changes in the level of labour
force participation of older workers.
This research seeks to fill this gap in literature by looking at the
combined impact of changes in migration and 65+ employment rates
on UK output under different assumptions of labour market
productivity up to the year 2037.
The International Longevity Centre-UK is an independent, non-partisan think-tank
dedicated to addressing issues of longevity, ageing and population change.
3. Assumptions*
Assumptions for each scenario
1. Low migration, zero increase in long run average employment rates
Downside
Base
Upside
Annual growth rate in productivity per worker
0.8%
2.2%
2.6%
Employment rate of 16-64 year olds
71.5%
71.5%
71.5%
Employment rate of 65+
6.1%
6.1%
6.1%
Population projections
ONS low migration variant ONS low migration variant ONS low migration variant
2. Central migration, zero increase in long run average employment rates
Downside
Base
Upside
Annual growth rate in productivity per worker
0.8%
2.2%
2.6%
Employment rate of 16-64 year olds
71.5%
71.5%
71.5%
Employment rate of 65+
6.1%
6.1%
6.1%
Population projections
ONS principal projection
ONS principal projection
ONS principal projection
3. Central migration, increase in 65+ employment rate
Downside
Base
Upside
Annual growth rate in productivity per worker
0.8%
2.2%
2.6%
Employment rate of 16-64 year olds
71.5%
71.5%
71.5%
Annual employment growth rate of 65+
2.6%
2.6%
2.6%
Population projections
ONS principal projection
ONS principal projection
ONS principal projection
4. High migration, increase in 65+ employment rate
Downside
Base
Upside
Annual growth rate in productivity per worker
0.8%
2.2%
2.6%
Employment rate of 16-64 year olds
71.5%
71.5%
71.5%
Annual employment growth rate of 65+
2.6%
2.6%
2.6%
Population projections
ONS high migration variant ONS high migration variant ONS high migration variant
*A further and significant assumption is that the productivity of migrants and over 65s is the same as the rest of the working population.
Both assumptions are reasonable. NIESR have shown that increasing the number of migrants actually raises overall levels of
productivity. Research on the productivity of older workers is inconclusive on whether age makes them less productive. In fact there is
research to show that some aspects of cognitive performance can improve with age.
The International Longevity Centre-UK is an independent, non-partisan think-tank
dedicated to addressing issues of longevity, ageing and population change.
4. Headline findings
Relatively small year on year changes to the 65+ employment rate and
rates of migration can make a significant difference to overall levels of
ouput – particularly towards the end of the forecast period.
Assuming population grows in line with ONS’s high migration variant
and the employment rate amongst the 65+ cohort rises in line with the
20 year trend, output can be 12% higher in 2037 than in a low
migration, zero 65+ employment growth scenario.
Assuming base levels of labour productivity growth, this equates to a
boost in output of £322bn in 2037 and £3.3 trillion over the entire
forecast period relative to the low migration, zero 65+ employment
growth scenario.
The International Longevity Centre-UK is an independent, non-partisan think-tank
dedicated to addressing issues of longevity, ageing and population change.
5. Headline findings cont…
At lower levels of labour productivity, increased migration and
increased employment rates amongst the 65+ cohort has a
dramatic affect on rates of GDP growth, particularly in the last 6
years of the forecast period.
Assuming downside rates of labour productivity growth, but high
levels of growth in migration and employment amongst the 65+
cohort - the average annual economic growth rates increase from
0.9% to 1.4% (1.6x) during the years 2031-37. At base levels of
productivity the shift in growth rates is less substantial - rising from
2.2% to 2.7% (1.24x) over the same period.
The International Longevity Centre-UK is an independent, non-partisan think-tank
dedicated to addressing issues of longevity, ageing and population change.
6. Charts and tables
The base case
Average annual GDP growth rates under different
assumptions for migration and 65+ employment
The International Longevity Centre-UK is an independent, non-partisan think-tank
dedicated to addressing issues of longevity, ageing and population change.
7. Charts and tables
The downside
Average annual GDP growth rates under different
assumptions for migration and 65+ employment
The International Longevity Centre-UK is an independent, non-partisan think-tank
dedicated to addressing issues of longevity, ageing and population change.
8. Policy implications
Small increases over time to 65+ employment rate and migration,
can cumulatively build up to make a significant impact on UK output.
If we are in fact entering a period of stagnant productivity growth
(see Summers and Krugman’s work around “Secular Stagnation”
amongst others), boosting the labour force will be critical to driving
output.
Policymakers must think long-term rather than short term, to
consider how to facilitate better working environments for the elderly
to encourage working beyond 65. And hasty measures that seek to
curb immigration today may inadvertently be shifting the UK onto a
lower growth path going forward.
The International Longevity Centre-UK is an independent, non-partisan think-tank
dedicated to addressing issues of longevity, ageing and population change.
9. Many thanks
Ben Franklin
Research Fellow
International Longevity Centre - UK
benfranklin@ilcuk.org.uk
02073400440
Twitter: @ilcuk
The International Longevity Centre-UK is an independent, non-partisan think-tank
dedicated to addressing issues of longevity, ageing and population change.
10. Many thanks
Ben Franklin
Research Fellow
International Longevity Centre - UK
benfranklin@ilcuk.org.uk
02073400440
Twitter: @ilcuk
The International Longevity Centre-UK is an independent, non-partisan think-tank
dedicated to addressing issues of longevity, ageing and population change.
