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IFS: People born in 60s and 70s poorer than parents

People born in the 1960s and 70s are likely to be worse off when they retire than the previous generation - unless they receive an inheritance.

Research by the Institute for Fiscal Studies suggests the biggest factors are pay rates, pensions and property ownership.

IFS Director Paul Johnson told BBC Radio 5 live's Wake Up to Money: "There's been this real slow-down in wage growth which is really hitting younger people."

He added, "Those who are doing fairly well will in addition inherit a reasonable amount and those who are doing less well will be left behind."

  • 17 Dec 2013
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