This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Public pension reform in the United Kingdom: what effect on the financial well-being of current and future pensioners?

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Richard Disney () (Institute for Fiscal Studies and University of Nottingham)
Carl Emmerson () (Institute for Fiscal Studies)
Abstract

Unlike many tax and benefit changes, reforms to public pension programmes take many years to have their full effect. This paper examines the effect of reforms to the public pension programme in the United Kingdom on the state retirement incomes of current generations of pensioners and on the prospective state incomes of future generations of pensioners. We show that, for an individual with lifetime earnings close to male average earnings, the UK pension system is at its most generous to those reaching the state pension age around the year 2000, but that the introduction of the state second pension and the pension credit postpones this peak for individuals on lower incomes and for those with substantial periods out of paid employment spent with caring responsibilities. We also consider how the 'mix' of benefits, particularly between the contributory and income-tested sectors, could change over time, and the impact that this would have on incentives to save for retirement.

Download Info
To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Publisher Info
Article provided by Institute for Fiscal Studies in its journal Fiscal Studies.

Volume (Year): 26 (2005)
Issue (Month): 1 (March)
Pages: 55-81
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:ifs:fistud:v:26:y:2005:i:1:p:55-81

Contact details of provider:
Postal: The Institute for Fiscal Studies 7 Ridgmount Street LONDON WC1E 7AE
Phone: (+44) 020 7291 4800
Fax: (+44) 020 7323 4780
Email:
Web page: http://www.ifs.org.uk

Order Information:
Postal: The Institute for Fiscal Studies 7 Ridgmount Street LONDON WC1E 7AE
Email:

For technical questions regarding this item, or to correct its listing, contact: (Emma Hyman).

Related research
Keywords:

Find related papers by JEL classification:
H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Richard Blundell & Carl Emmerson & Matthew Wakefield, 2006. "The importance of incentives in influencing private retirement saving: known knowns and known unknowns," IFS Working Papers W06/09, Institute for Fiscal Studies. [Downloadable!]
  2. Richard Disney & Carl Emmerson & Matthew Wakefield, 2007. "Pension Provision and Retirement Saving: Lessons from the United Kingdom," Social and Economic Dimensions of an Aging Population Research Papers 176, McMaster University. [Downloadable!]
    Other versions:
Statistics
Access and download statistics

Did you know? Over 1000 institutions contribute their bibliographic data directly to this service.

This page was last updated on 2009-10-26.


This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.