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From Beveridge to Turner: demography, distribution and the future of pensions in the UK

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  • Hills, John

Abstract

This 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.

Suggested Citation

  • Hills, John, 2006. "From Beveridge to Turner: demography, distribution and the future of pensions in the UK," LSE Research Online Documents on Economics 5562, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:5562
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    File URL: http://eprints.lse.ac.uk/5562/
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    References listed on IDEAS

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    1. 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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    Cited by:

    1. Eich, Frank & Swarup, Amarendra, 2009. "Back to the drawing board: The economic crisis and its implications for pension provision in the United Kingdom," EconStor Preprints 54559, ZBW - Leibniz Information Centre for Economics.
    2. Marianne A. Ferber & Patricia Simpson, 2009. "Whither Systemic Reform? A Critical Review of the Literature on the Distributional and Income Adequacy Effects of Systemic Pension Reforms," management revue - Socio-Economic Studies, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 20(3), pages 254-276.

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    1. John Hills, 2006. "From Beveridge to Turner: Demography, Distribution and the Future of Pensions in the UK," CASE Papers case110, Centre for Analysis of Social Exclusion, LSE.
    2. John Hills, 2006. "From Beveridge to Turner: demography, distribution and the future of pensions in the UK," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 169(4), pages 663-679, October.

    More about this item

    Keywords

    Demographic change; Pensions; Retirement incomes; Social security;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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