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Occupational pension schemes: prospects and reforms in the UK

Author

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  • Richard Disney

    (Institute for Fiscal Studies and University of Nottingham)

Abstract

Private pensions seem likely to provide the dominant source of income for the majority of retired workers in the future. New private pension instruments developed since 1986, notably personal pensions, have proved popular, but concern as to ‘overselling’ of personal pensions and as to the risks associated with the ‘money purchase’ form of pension provision is frequently voiced by commentators. For many people, rightly or wrongly, the ‘traditional’ finalsalary- based occupational pension remains the bench-mark for private pension provision in the UK. Nevertheless, recent trends, most notably the growth of alternatives to final- salary-based arrangements and a shift in attitudes towards pension provision among employers, suggest that the occupational pension sector will undergo significant changes in the future.

Suggested Citation

  • Richard Disney, 1995. "Occupational pension schemes: prospects and reforms in the UK," Fiscal Studies, Institute for Fiscal Studies, vol. 16(3), pages 19-39, September.
    • Handle: RePEc:ifs:fistud:v:16:y:1995:i:3:p:19-39
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    File URL: http://www.ifs.org.uk/fs/articles/fsdisney2.pdf
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    References listed on IDEAS

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    1. Edward P. Lazear, 1983. "Pensions as Severance Pay," NBER Chapters, in: Financial Aspects of the United States Pension System, pages 57-90, National Bureau of Economic Research, Inc.
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    3. repec:ucp:bknber:9780226062815 is not listed on IDEAS
    4. Agar Brugiavini & Richard Disney, 1995. "The choice of private pension plans under uncertainty," IFS Working Papers W95/05, Institute for Fiscal Studies.
    5. Alan L. Gustman & Thomas L. Steinmeier, 1989. "The Stampede Toward Defined Contribution Pension Plans: Fact or Fiction?," NBER Working Papers 3086, National Bureau of Economic Research, Inc.
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    7. Dilnot, Andrew & Disney, Richard & Johnson, Paul & Whitehouse, Edward, 1994. "Pensions policy in the UK: An economic analysis," MPRA Paper 10478, University Library of Munich, Germany.
    8. Eric M. Engen & William G. Gale & John Karl Scholz, 1994. "Do Saving Incentives Work?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 25(1), pages 85-180.
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    Cited by:

    1. Whitehouse, Edward, 2000. "Pension reform, financial literacy and public information: a case study of the United Kingdom," MPRA Paper 10323, University Library of Munich, Germany.
    2. Samwick, Andrew A., 1998. "Discount rate heterogeneity and social security reform," Journal of Development Economics, Elsevier, vol. 57(1), pages 117-146, October.
    3. Danzer, Alexander M. & Dolton, Peter & Bondibene, Chiara Rosazza, 2016. "Who wins? Evaluating the impact of UK public sector pension scheme reforms," National Institute Economic Review, National Institute of Economic and Social Research, vol. 237, pages 38-46, August.
    4. palacios, Robert & Whitehouse, Edward, 2006. "Civil-service pension schemes around the world," Social Protection Discussion Papers and Notes 90340, The World Bank.
    5. Whitehouse, Edward, 2001. "Pension systems in 15 countries compared: the value of entitlements," MPRA Paper 14751, University Library of Munich, Germany.
    6. Whitehouse, Edward, 1998. "Pension Reform in Britain," MPRA Paper 14175, University Library of Munich, Germany.
    7. Disney, Richard & Whitehouse, Edward, 1999. "Pension plans and retirement incentives," Social Protection Discussion Papers and Notes 20851, The World Bank.
    8. Campbell, Nigel, 1999. "The decline of employment among older people in Britain," LSE Research Online Documents on Economics 6501, London School of Economics and Political Science, LSE Library.
    9. Nigel Campbell, 1999. "The Decline of Employment Among Older People in Britain," CASE Papers 019, Centre for Analysis of Social Exclusion, LSE.

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