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Pension Reform in the United Kingdom: An Economic Perspective

Author

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  • Richard Disney

Abstract

This paper considers the evolution of the UK's pension programme in the light of various stated rationales for public intervention. It argues that the publicly-provided (tax-financed) pension programme has gone through four distinct stages since 1946. It examines some of the issues that have arisen in the context of private pension provision in the UK, both in the form of so-called ‘defined benefit’ and ‘defined contribution’ pension plans, as well as individual purchases of annuities.

Suggested Citation

  • Richard Disney, 2016. "Pension Reform in the United Kingdom: An Economic Perspective," National Institute Economic Review, National Institute of Economic and Social Research, vol. 237(1), pages 6-14, August.
    • Handle: RePEc:sae:niesru:v:237:y:2016:i:1:p:r6-r14
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    More about this item

    Keywords

    pension reform; employer-provided pensions; annuities;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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