The future of the state pension
IFS Zooms In: The Economy
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Moving Towards Universalization of Pensions
The speakers discuss the idea of universalization or a citizen's pension, where individuals living in the UK receive a year's credit towards their pension eligibility for every year they live in the country. They argue for further moving towards this concept, but raise concerns about the government's ability to implement it effectively due to a lack of data on the population and highlight the potential value of allowing individuals to buy extra years to top up their state pension.
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