Private Pensions Explained

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Private pension wealth makes up 42% of UK household wealth. • We explain how private pensions work, how pension incomes have changed over time and what 'pension freedoms' mean for pension saving. • Support our work: https://ifs.org.uk/individual-membership • 00:00 - The role of private pensions • 00:34 - Defined benefit vs defined contribution • 02:48 - Pensioner incomes • 04:51 - Increase in life expectancy

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