Research and analysis

A validation of the methodology used in the Department for Work and Pensions’ Ipen model (Working Paper No.106)

A validation of the methodology used in the Department for Work and Pensions’ Ipen model (Working Paper No.106)

From:
Department for Work and Pensions
Published
1 February 2012

Documents

A validation of the methodology used in the Department for Work and Pensions’ Ipen model (Working Paper No.106)

Ref: ISBN 978-1-908523-49-5

PDF, 351 KB, 19 pages

This file may not be suitable for users of assistive technology.

Request an accessible format.
If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email accessible.formats@dwp.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Details

By John Adams and Chris Curry

The Department for Work and Pensions (DWP) has a model called Ipen that produces state and private pension outcomes for hypothetical individuals or couples.

The DWP commissioned the Pensions Policy Institute (PPI) to validate Ipen against the PPI’s Individual Model (IM). The PPI’s IM is a model developed by the PPI to project incomes in retirement for hypothetical individuals and couples.

The validation process involves comparing the results of the two models under a number of different scenarios and checking whether the results are similar. While no feasible set of scenarios can be exhaustive, a validation process of this type can help to provide confidence in the model’s methodology.

Published 1 February 2012