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Public and private pension spending: principles, practice and the need for reform

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  • James Banks

    (Institute for Fiscal Studies and University College London)

  • Carl Emmerson

    (Institute for Fiscal Studies)

Abstract

This paper surveys the issue of public spending on pensions. Drawing on evidence from systems around the world, but particularly in Britain, we outline the arguments for different types of public and private provision of pension income and consider how far they go towards meeting the objectives of pension provision. We discuss past trends in spending and look at future projections.

Suggested Citation

  • James Banks & Carl Emmerson, 2000. "Public and private pension spending: principles, practice and the need for reform," Fiscal Studies, Institute for Fiscal Studies, vol. 21(1), pages 1-63, March.
    • Handle: RePEc:ifs:fistud:v:21:y:2000:i:1:p:1-63
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    3. Richard Disney & Carl Emmerson & Sarah Smith, 2004. "Pension Reform and Economic Performance in Britain in the 1980s and 1990s," NBER Chapters, in: Seeking a Premier Economy: The Economic Effects of British Economic Reforms, 1980–2000, pages 233-274, National Bureau of Economic Research, Inc.
    4. Orazio Attanasio & Susanne Rohwedder, 2001. "Pension wealth and household saving: evidence from pension reforms in the UK," IFS Working Papers W01/21, Institute for Fiscal Studies.
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    9. Sheila Rose Darmaraj & Suresh Narayanan, 2019. "The Long-Term Financial Sustainability of the Civil Service Pension Scheme in Malaysia," Asian Economic Papers, MIT Press, vol. 18(1), pages 155-178, Winter/Sp.
    10. Nicholas Burton & Peter Galvin, 2022. "The effect of technology and regulation on the co-evolution of product and industry architecture," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 31(4), pages 1056-1085.
    11. Tomasz Brzęczek & Marek Szczepański, 2017. "The Impact Of Demography, Institutional Solutions And Fiscal Incentives On The Level Of Participation And Investment Efficiency Of Occupational Pension Schemes In Central And Eastern Europe," Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 11(1), pages 499-509.
    12. Afrika Ndongozi-Nsabimana, 2020. "Tax revenues and social protection financing in African and Latin American countries," Post-Print hal-03098695, HAL.
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    14. Krueger, Alan B. & Meyer, Bruce D., 2002. "Labor supply effects of social insurance," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 4, chapter 33, pages 2327-2392, Elsevier.
    15. Richard Blundell & Costas Meghir & Sarah Smith, 2004. "Pension Incentives and the Pattern of Retirement in the United Kingdom," NBER Chapters, in: Social Security Programs and Retirement around the World: Micro-Estimation, pages 643-690, National Bureau of Economic Research, Inc.

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    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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