What’s happening now? Data models, grounded upon Office for National Statistics (ONS) microdata allow us to quantify who and by how much policy changes interact with people. Data science, including profiling techniques, helps us shed light into the demographics complexities of the parties involved.

Where are we going? Projection models, consistent with the economic future described by the Office for Budget Responsibility (OBR), allow us to value the coming years of the pension system in pounds and pence. Illustrations reflect the lived experiences and potential futures of affected stakeholders and present a tangible picture of policy impact on individuals, industry and the Exchequer.

What will we enumerate next? The pensions system continues to evolve and so do the PPI’s models. Model currency is maintained through updates to base data, using the most recent assumptions, and reflecting changes to the pension and interacting systems. Current model developments include an upgrade to the economic model, which will integrate the interactions between mortality and economics, and modelling of Collective Defined Contribution schemes. This will keep the PPI’s model suite fit for the pensions system as it evolves.