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Pensions Schemes after the 1989 Budget

Author

Listed:
  • Andrew Dilnot

    (Institute for Fiscal Studies and University of Oxford)

  • Richard Disney

    () (Institute for Fiscal Studies and University of Nottingham)

Abstract

The Social Security Act 1986 allowed a wider range of pension schemes to contract out of the state earnings-related pension scheme (SERPS). Individuals now have a good idea of choice concerning their pension strategy, and an evaluation of this strategy involves some complex decision-making by individuals. One component of this choice is the tax treatment of pensions. Pensions are given a degree of 'fiscal privilege' relative to other forms of investment, such as life insurance. The issue of pension taxation, and reforms to the system of taxation, have been discussed by Fry, Hammond and Kay (1985), but this particular study preceded the major reforms introduced in the 1986 Act.

Suggested Citation

  • Andrew Dilnot & Richard Disney, 1989. "Pensions Schemes after the 1989 Budget," Fiscal Studies, Institute for Fiscal Studies, vol. 10(3), pages 34-49, August.
  • Handle: RePEc:ifs:fistud:v:10:y:1989:i:3:p:34-49
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    References listed on IDEAS

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    1. Mervyn A. King, 1983. "The Distribution of Gains and Losses from Changes in the Tax Treatment of Housing," NBER Chapters,in: Behavioral Simulation Methods in Tax Policy Analysis, pages 109-138 National Bureau of Economic Research, Inc.
    2. Callan, Tim, 1991. "Property Tax: Principles and Policy Options," Research Series, Economic and Social Research Institute (ESRI), number PRS12.
    3. John Hills & Holly Sutherland, 1991. "The proposed Council Tax," Fiscal Studies, Institute for Fiscal Studies, pages 1-21.
    4. McClements, L. D., 1977. "Equivalence scales for children," Journal of Public Economics, Elsevier, vol. 8(2), pages 191-210, October.
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    Cited by:

    1. Whitehouse, Edward, 1998. "Pension Reform in Britain," MPRA Paper 14175, University Library of Munich, Germany.

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