Intergenerational fairness inquiry: Intergenerational Foundation response

Document type
Consultation
Corporate author(s)
Intergenerational Foundation
Publisher
Intergenerational Foundation
Date of publication
4 February 2016
Subject(s)
Social Policy, Older Adults, Poverty Alleviation Welfare Benefits and Financial Inclusion
Collection
Social welfare
Material type
Reports

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In this submission to the Work and Pensions Select Committee's inquiry into intergenerational fairness, the Intergenerational Foundation make the following observations:

  • IF believes the intergenerational contract which underpins the welfare state is under increasing strain from rising longevity and the growing wealth imbalance between the Baby Boomers and the younger generation.
  • The government’s austerity agenda has clearly been intergenerationally unbalanced: younger generations have suffered large falls in income, while the full range of pensioner benefits has been protected.
  • This is inequitable because of the long-term rise in pensioner incomes, which has seen them become the group within society with the lowest levels of poverty over the last 25 years.