Squeezed in Retirement The Future of Middle Britain

A Chatham House Report

Paola Subacchi, William Jackson, Vanessa Rossi, Richard Varghese This Chatham House Report takes a fresh look at how people in the UK save for their retirement and highlights the threat of a mismatch between individuals' savings behaviour and expectations regarding their future lifestyle. Projecting retirement incomes forward to 2050, the report shows that the UK's middle classes will face an acute 'squeeze' during retirement. Approximately 15 million middle income households risk a reduction in their income of almost 60% when they retire. But the report suggests that there is a window of opportunity for public policies to help people to adjust and to save and suggests a number of policy options and makes specific recommendations for action.

February 2011 ISBN: 978 1 86203 248 4

£10

Available online at www.chathamhouse.org.uk/publications

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www.chathamhouse.org.uk www.chathamhouse.org.uk Contents

VOLUME 67 NUMBER 4

THE WORLD TODAY, founded in 1945, is published by The Royal Institute of International Affairs. The Institute is precluded by its Royal Charter from expressing an opinion of its own on any aspect of international affairs. Any views expressed in this publication are, therefore, those of the contributors. Copyright is normally owned by The Royal Institute of International Affairs. Articles and letters should be sent to: The Editor, The World Today, Chatham House, 10 St James’s Square, London SW1Y 4LE. +44 (0) 20 7957 5712 email: wt@chathamhouse.org.uk afrimston@chathamhouse.org.uk Advertising and subscription enquiries: +44 (0) 20 7957 5712

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PAGE 7 THE GULF REGION

PAGE 19 JAPAN

4 MIDDLE EAST AND NORTH AFRICA

Guarding The Fortress Mai Yamani 4 Anger Management Jane Kinninmont 7 If Not Now, When? Alon Ben-Meir 10 13 ARMS TRADE: A Filter Not A Dam Zoë Pelter 16 ORGANISED CRIME: Joint Responsibility William Hughes and Mark Pyman 19 JAPAN: Heavy History John Swenson-Wright 21 PAKISTAN: Tolerating Intolerance Rosheen Kabraji 23 CHINA: Weak Impetus For Change Su Hsing Loh 26 US-PACIFIC: Pacific-Minded Cleo Paskal 29 AFRICAN HYDROPOWER: Damming At What Cost? Adjoa Anyimadu

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