The Generations, Gamed: Intergenerational Injustices in the UK Pension System

The UK's second Pensions Commission was tasked with creating a pensions framework that is ‘strong, fair and sustainable’. Its interim report represents a promising down payment on that ambition. However, unless the Commission moves beyond vague generalisations about intergenerational justice to more precise analysis of intergenerational issues, its inquiries will remain incomplete. As a result, there is a risk that the Commission downplays the valuable role that intragenerational transfers (transfers between elderly households) could play in creating a fairer, more sustainable pensions system.