Public summary
Population ageing has created many pressing policy challenges, not least relating to levels of retirement saving provision and the ability and willingness of individuals to engage in paid work at older ages. A large body of work by Professor Banks and his collaborators has directly influenced the methods used and the actions taken by UK policymakers in this area in two ways. The design and collection of new data on this topic that is subsequently made publicly available has had indirect impact by making it possible for others, including policymakers themselves, to carry out impactful analysis and research. In particular, it has influenced the Department for Work and Pensions own analysis of work and retirement issues, including their methodologies for measuring and estimating retirement wealth, and the work of the government’s What Works Centre for Ageing Better. In addition, research on the determinants of trends in work at older age has had direct impact, for example on the government’s adoption of the Fuller Working Lives policy agenda, replacing the previous focus on longer working lives.| Impact date | 2013 → 2020 |
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| Category of impact | Economic impacts, Societal impacts |