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David Sturrock

@david-sturrock.bsky.social
671 followers 123 following 37 posts

Economist

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Reposted by David Sturrock
The Institute for Fiscal Studies @theifs.bsky.social · 01/06/2025
NEW: Four big decisions for the 2025 Spending Review @beeboileau.bsky.social, @maxwarner.bsky.social and @benzaranko.bsky.social explain why tough choices will be unavoidable at the upcoming Spending Review in our new briefing:
ifs.org.uk
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Reposted by David Sturrock
The Institute for Fiscal Studies @theifs.bsky.social · 16/05/2025
EVENT: A look ahead to the 2025 Spending Review Join us at 11am on Monday 2 June for analysis of the key choices at next month's Spending Review, with speakers @beeboileau.bsky.social and @instituteforgovernment.org.uk's @stuarthoddinott.bsky.social. Sign up here: ifs.org.uk/events/look-...
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Reposted by David Sturrock
Steve Webb @stevewebb1.bsky.social · 13/05/2025
New blog from @theifs.bsky.social suggesting that women who worked longer (because of higher state pension age) generally benefited from lower levels of cognitive decline. Those who did more physical jobs also benefited in terms of physical health, but the opposite was true for more sedentary jobs:
ifs.org.uk
Working in your 60s: a way to stay young for some | Institute for Fiscal Studies
On average, women who remained in work for longer following increases in the state pension age saw improved cognition and less physical disability.
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Reposted by David Sturrock
The Institute for Fiscal Studies @theifs.bsky.social · 13/05/2025
NEW: On average, working helps women in their 60s maintain cognitive function and delay the onset of physical disability. Not all types of work are beneficial, however. James Banks, Jonathan Cribb, Carl Emmerson and @david-sturrock.bsky.social summarise their new research:
Woman looks through files in a cabinet. Image credit: Age Without Limits.
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David Sturrock @david-sturrock.bsky.social · 13/05/2025
And here is the underlying research, forthcoming in the journal Labour Economics, authored with James Banks, Jonathan Cribb and Carl Emmerson www.sciencedirect.com/science/arti...
sciencedirect.com
The impact of work on cognition and physical disability: Evidence from English women
In this paper we show that remaining in work has significant positive causal effects on the average cognition and physical mobility of older women in …
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David Sturrock @david-sturrock.bsky.social · 13/05/2025
Here is the @theifs.bsky.social comment: ifs.org.uk/articles/wor...
ifs.org.uk
Working in your 60s: a way to stay young for some | Institute for Fiscal Studies
On average, women who remained in work for longer following increases in the state pension age saw improved cognition and less physical disability.
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David Sturrock @david-sturrock.bsky.social · 13/05/2025
Our results mean that longer working has the potential to be positive for at least some health outcomes. The effects depend on the type of work and what people would be doing if they retire. Policymakers should therefore consider encouraging social interactions and physical exercise in retirement 7/
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David Sturrock @david-sturrock.bsky.social · 13/05/2025
This evidence complements a number of studies in other settings that tends to show work is good for cognition but finds mixed results for other outcomes. Our study is also not the last word- there are other aspects of health and effects could change when looking over longer time horizons. 6/
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David Sturrock @david-sturrock.bsky.social · 13/05/2025
However, the effects varied by the type of job. Jobs with some physical activity were good for preventing disability but sedentary jobs were actively harmful. We found that work caused women in non-sedentary jobs to do less exercise. 5/
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David Sturrock @david-sturrock.bsky.social · 13/05/2025
On average, being in work prevented the onset of physical disability. Those in work performed better in a walking speed test and reported fewer difficulties with mobility. 4/
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David Sturrock @david-sturrock.bsky.social · 13/05/2025
The benefits were larger for single women. This suggests that it’s those who live alone - who are more likely to see a drop of in social interactions upon retirement - who gained the most from work 3/
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David Sturrock @david-sturrock.bsky.social · 13/05/2025
On average, staying in work in your 60s is good for cognitive functioning of women. This was measured by performance on tests including a word recall test. 2/
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David Sturrock @david-sturrock.bsky.social · 13/05/2025
NEW:The government continues to increase the state pension age. Next year it’ll start going up from 66 to 67. Some people choose to - or need to - work longer as a result. Does it run down their health? Or can work keep you young? We investigated for women whose pension age rose in the 2010s… 1/
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Reposted by David Sturrock
Bee Boileau @beeboileau.bsky.social · 31/03/2025
Looking forward to speaking at this event tomorrow morning on the challenges faced by people managing their pension wealth in retirement. Do come along for some discussion of what one Nobel Prize-winning economist called 'the nastiest, hardest problem in finance' (!)
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David Sturrock @david-sturrock.bsky.social · 23/01/2025
Read the full report here and come along to our event later! 9/9 ifs.org.uk/publications...
ifs.org.uk
Ethnic differences in private pension participation after automatic enrolment | Institute for Fiscal Studies
What are the drivers of ethnic gaps in private pension participation rates and what consequences will these gaps have for future retirement incomes?
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David Sturrock @david-sturrock.bsky.social · 23/01/2025
There’s a potential role for government to increase awareness of Sharia compliant options and reduce the hassle cost of switching to them. Also implications for thinking about increasing automatic enrolment default rates. 8/
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David Sturrock @david-sturrock.bsky.social · 23/01/2025
Opting out of a pension means forgoing the benefits of an employer pension contribution and tax relief. We estimate that doing this over a whole working life could mean losing out on £16.5k or a 60% increase in retirement income for a typical Pakistani or Bangladeshi employee. That’s a lot! 7/
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David Sturrock @david-sturrock.bsky.social · 23/01/2025
In the private sector, employees are typically enrolled into DC pension schemes where default asset allocations are not in line with these teachings. However, employees typically have the option to change to a Sharia-compliant fund. 6/
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David Sturrock @david-sturrock.bsky.social · 23/01/2025
Higher opt-out rates for Pakistani and Bangladeshi employees exist in both the public and private sectors despite the fact that saving in public service pensions is generally understood to be consistent with Islamic teaching. 5/
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David Sturrock @david-sturrock.bsky.social · 23/01/2025
Islamic teaching is typically seen as prohibiting receiving income from interest and investing in ‘unethical’ industries such as alcohol or tobacco. Muslims who report that their religion makes a greater difference to their life are particularly likely to opt out of workplace pensions. 4/
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David Sturrock @david-sturrock.bsky.social · 23/01/2025
There is a wide range of evidence that religious beliefs and/or norms in Islam are important in driving higher opt-out rates, and 90% of Pakistani and Bangladeshi individuals are Muslims. 3/
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David Sturrock @david-sturrock.bsky.social · 23/01/2025
The much higher opt-out rates for employees of Pakistani or Bangladeshi origin cannot be explained by differences in earnings, age, education levels, or the characteristics of the job or of their employer 2/
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David Sturrock @david-sturrock.bsky.social · 23/01/2025
NEW @theifs.bsky.social report: Employees Pakistani and Bangladeshi background are around twice as likely to opt out of workplace pensions as other employees 1/
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Reposted by David Sturrock
The Institute for Fiscal Studies @theifs.bsky.social · 17/01/2025
EVENT: Ethnicity gaps in pension participation Thurs 23 Jan 2025 | 2pm – 3pm | Online We present new findings on ethnic gaps in pension participation rates, with Taha Choukhmane, Athina Vlachantoni, @laurenceobrien.bsky.social and Carl Emmerson. Sign up here: ifs.org.uk/events/ethni...
ifs.org.uk
Ethnicity gaps in pension participation | Institute for Fiscal Studies
IFS researchers will present new findings exploring ethnic gaps in pension participation rates following the rollout of automatic enrollment.
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Reposted by David Sturrock
Susan J. Smith @sjs1869.bsky.social · 11/01/2025
Lots of UK #housing news to digest at a time when nearly one in five 25-34 year olds are living in their parental home; notably, growing reliance on ‘the hotel of mum and dad’ is associated with ‘increased reported experience of ill health’ in this age cohort.
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Reposted by David Sturrock
The Institute for Fiscal Studies @theifs.bsky.social · 11/01/2025
NEW: 18% of UK 25-34-year-olds are living with their parents, up more than a third since 2006. @beeboileau.bsky.social, @david-sturrock.bsky.social and Isabel Atkinson's new report the ‘Hotel of Mum and Dad’ looks at who lives with parents, why and the implications for their savings. [THREAD: 1/9]
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David Sturrock @david-sturrock.bsky.social · 11/01/2025
This intergenerational support is quite different to direct transfers of wealth. Much more commonly received among lower income people and given by lower wealth parents than direct wealth transfers. More here: ifs.org.uk/publications... 10/10
ifs.org.uk
Hotel of Mum and Dad? Co-residence with parents among those aged 25–34 | Institute for Fiscal Studies
We study young adults who live with parents, considering how the share living with parents varies across groups, and how this can relate to saving.
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David Sturrock @david-sturrock.bsky.social · 11/01/2025
For some, perhaps particularly if wanting to live in high paying but high housing cost areas like London, having parents willing and able to house you as you start your career could be a welcome opportunity to build savings. For others it can be a safety net in tougher times. 9/
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David Sturrock @david-sturrock.bsky.social · 11/01/2025
But we also see that those living at home are more likely to see falls in their wealth. This is consistent with some of that group living with parents due to adverse events like job loss or separation from a partner. 8/
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David Sturrock @david-sturrock.bsky.social · 11/01/2025
Living with parents can mean saving on rent - about £560 per month typically, rising to £1000 in London. 14% of those living at home built up more than £10k in extra savings over a 2-year period. That was a rate about 30% higher than for an equivalent group of private renters. 7/
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David Sturrock @david-sturrock.bsky.social · 11/01/2025
London is a bit more complex as the significant numbers of young people moving to the capital typically can’t live with parents. But among parents living in the capital, having a child at home is particularly common. 6/
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David Sturrock @david-sturrock.bsky.social · 11/01/2025
Instead housing costs likely play a large role. There tender to be large rises in parts of the country where house prices have risen rapidly - rates up 58% in the South West and 56% in East of England. 5/
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David Sturrock @david-sturrock.bsky.social · 11/01/2025
What’s driving this? Young people have changed over time becoming more educated, more ethnically diverse, less likely to marry and have children and less healthy. But these changes together could only explain about 10% of the rise. In any case, settling down later might be a symptom not cause.4/
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David Sturrock @david-sturrock.bsky.social · 11/01/2025
Rates of living with parents vary a lot across ethnic groups. Bangladeshi people have a particularly high rate, at 41% This group has also seen the largest rise, up from 28% in 2006-07. 3/
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David Sturrock @david-sturrock.bsky.social · 11/01/2025
Living with parents is clustered among some groups. Around half of men aged 25 are now living with a parent. Half of those in the lowest income fifth live with a parent. 2/
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David Sturrock @david-sturrock.bsky.social · 11/01/2025
Around 1 in 5 people aged 25-34 live with a parent. This is up from less than 1 in 8 in the mid-2000s. The “Hotel of Mum and Dad” has become more popular but why? And who is benefitting from or giving intergenerational support in this way? Our new @theifs.bsky.social report takes a deep dive. 1/
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David Sturrock @david-sturrock.bsky.social · 17/12/2024
Had fun chatting about inheritance tax and the budget for the Financial Fairness Podcast. Listen here: www.financialfairness.org.uk/en-gb/what-w...
financialfairness.org.uk
Inheritance Tax
Financial Fairness Podcast on Inheritance Tax
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David Sturrock @david-sturrock.bsky.social · 27/11/2024
Provocative read from @tom-clark.bsky.social referencing some of our @theifs.bsky.social findings. Key for a government aiming to expand opportunity to keep wealth in mind: Wealth transfers are a growing part of lifetime income and high house prices will shape who lives and works where.
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David Sturrock @david-sturrock.bsky.social · 24/11/2024
Nice piece Dan. On the £1.5m/£3m vs £2m/£4m as the effective tax-free threshold for single/couple: is the government incorrect in its presentation of its own policy then?
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David Sturrock @david-sturrock.bsky.social · 22/11/2024
🗺️🏡Check out our maps of how house price growth and building varied across areas of England since 1996.
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David Sturrock @david-sturrock.bsky.social · 19/11/2024
Trying to bring some clarity on the various numbers flying around about inheritance tax and farms with @bbc5live.bsky.social today. HMRC and DEFRA figure are not inconsistent with each other. They measure different things: estates vs farm businesses
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David Sturrock @david-sturrock.bsky.social · 15/11/2024
On @theifs.bsky.social podcast this week, Helen Miller, Paul Johnson and I discuss all things inheritance tax in the Budget! ifs.org.uk/articles/inh...
ifs.org.uk
Inheritance tax rises and the Budget: who's affected? | Institute for Fiscal Studies
We discuss how inheritance tax actually changed in the budget, who will be affected and whether it was a good idea.
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David Sturrock @david-sturrock.bsky.social · 30/10/2024
I believe it is not. AIM now gets just 50% relief in all circumstances
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David Sturrock @david-sturrock.bsky.social · 30/10/2024
Budget IHT changes: - pensions brought into estates - business and agricultural assets: no IHT on first £1m of assets (combined) - 50% relief for agricultural and business assets above this £1m threshold ie 20% IHT where previously could be none - 50% relief for AIM Now we wait for the doc..
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David Sturrock @david-sturrock.bsky.social · 30/10/2024
Budget IHT changes: - pensions brought into estates - business and agricultural assets: no IHT on first £1m of assets (combined) - 50% relief for agricultural and business assets above this £1m threshold ie 20% IHT where previously could be none - 50% relief for AIM Now we wait for the doc..
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Reposted by David Sturrock
The Institute for Fiscal Studies @theifs.bsky.social · 29/10/2024
EVENT: Autumn Budget 2024: IFS analysis IFS researchers will present their initial response to Rachel Reeves' first Budget. Thursday 31 October | 10:30am - 12pm | Online Sign-up here:
buff.ly
Autumn Budget 2024: IFS analysis | Institute for Fiscal Studies
At this online webinar IFS researchers will present their initial response to new Chancellor Rachel Reeves' first Budget.
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