From Beveridge to Turner: Demography, Distribution and the Future of Pensions in the UK
AbstractThis article outlines the recommendations of the UK Pensions Commission, and the data and analysis on which they were based, including projections of demographic change, trends in private pension saving, and evolution of the state pension system. The Commission concluded that without reform, structural problems with UK pensions would lead to increasingly inadequate and inequitable provision in 15-20 years time. It recommended reforms which would lead to a more generous, more universal and less means-tested state system than would otherwise evolve, and the establishment of a low cost National Pension Savings Scheme, into which employees without good employer provision would automatically be enrolled. The proposals, which have now largely been adopted by the UK government, imply eventual increases both in state spending on pensions as a share of national income and in State Pension Age, but accompanied by measures to facilitate later and more flexible retirement.
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Bibliographic InfoPaper provided by Centre for Analysis of Social Exclusion, LSE in its series CASE Papers with number case110.
Date of creation: Jun 2006
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Web page: http://sticerd.lse.ac.uk/case/_new/publications/default.asp
Demographic change; Pensions; Retirement incomes; Social security;
Find related papers by JEL classification:
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
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- Hills, John & Ditch, John & Glennerster, Howard (ed.), 1994. "Beveridge and Social Security: An International Retrospective," OUP Catalogue, Oxford University Press, number 9780198288060, September.
- Sutherland H, 2004. "Poverty in Britain: the impact of government policy since 1997 A projection to 2004-5 using microsimulation," Microsimulation Unit Research Notes MU/RN/44, Microsimulation Unit at the Institute for Social and Economic Research.
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