We prove that the probability i(n, k) that a random permutation of an n element set has an invariant subset of precisely k elements decreases as a power of k, for k ≤ n/2. Using this fact, we prove that the fraction of elements of Sn belong to transitive subgroups other than Sn or An tends to 0 when n → ∞, as conjectured by Cameron. Finally, we show that for every ∈ > 0 there exists a constant C such that C elements of the symmetric group Sn, chosen randomly and independently, generate invariably Sn with probability at least 1 − ∈. This confirms a conjecture of McKay.