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Author: Hugh Pemberton Publisher: ISBN: Category : Business & Economics Languages : en Pages : 284
Book Description
In this volume, leading experts on the past and present of pensions in Britain debate the present crisis, and the lessons of history for those seeking to craft solutions to it that are both effective and enduring. The volume also contains a number of chapters which draw important lessons from the experience of other European and North American countries over the past few decades.
Author: Hugh Pemberton Publisher: ISBN: Category : Business & Economics Languages : en Pages : 284
Book Description
In this volume, leading experts on the past and present of pensions in Britain debate the present crisis, and the lessons of history for those seeking to craft solutions to it that are both effective and enduring. The volume also contains a number of chapters which draw important lessons from the experience of other European and North American countries over the past few decades.
Author: Peter Morris Publisher: Civitas Book Publisher ISBN: 9781906837310 Category : Pensions Languages : en Pages : 0
Book Description
The UK state pension is the lowest in the developed world. From the start, it was intended to prevent absolute destitution in old age, whilst encouraging all those who could do so to make their own arrangements to secure a decent standard of living in retirement. This aim has not changed. Successive governments have encouraged all citizens to join private pension plans, which would guarantee this standard of living. The aim of public policy for the last 30 years has been to encourage saving and to permit more personal choice. In this book the authors show how and why the very opposite has occurred. Saving has decreased and most people feel 'scepticism, bewilderment and confusion' when thinking about post-retirement income. Defined benefit (DB) schemes have declined until they scarcely exist outside the public sector. They have been replaced by defined contribution (DC) schemes which, the authors argue, are not really pensions at all, but only savings vehicles - and very unpredictable ones at that. To call a DC scheme a pension is like calling a tent a house. The authors use the example of hypothetical twin brothers who start work on the same day, one for a company offering a DB scheme, the other making a DC arrangement. The latter will receive a retirement income which will be just one quarter of his DB twin's. More than seven million people over the age of 25 are not contributing to any private pension at all - which means that, given the inadequacy of the state pension, they are on course for an extremely impoverished retirement. Millions of people in Britain are going to retire with no financial assets whatever. Unless effective action is taken to increase the amount people save, and the effectiveness with which those savings are converted into post-retirement income, poverty amongst older people is going to increase on an enormous scale.
Author: Craig Berry Publisher: Oxford University Press ISBN: 0191085642 Category : Business & Economics Languages : en Pages : 338
Book Description
Private pensions provision in the UK is in crisis, yet it is not the crisis often depicted in political and popular discourses. While population ageing has affected traditional pensions practice, the imperilment of UK pensions is due in fact to the peculiar way policy-makers have responded to wider social and economic change. Pensions are a mechanism for managing failed futures, yet this function is being impeded by the individualization of provision. This book offers a political economy perspective on the development of private pensions, focusing specifically on how policy elites have sought to respond to perceived crises of demographic change, under-saving, and fund deficits, and in doing so have absorbed imperatives to subject individuals to a market-led regime under the influence of neoliberal ideology. This terrain is explored through chapters on the historical and comparative context of UK pensions provision, the demise of collectivist provision, the rise of pensions individualization and the state's role as facilitator and regulator in this regard, and the financial and economic context in which pensions provision operates. By placing the UK system in a comparative context of pensions reform agendas across the world, this book offers an original understanding of the unique temporality and materiality of pensions provision as a set of mechanisms for coping with generational change and forecast failures in capitalist economies. It also presents a nuanced account of the extent to which the state acts to anchor the process of pensions rematerialization and, crucially, concludes by outlining a coherent and radical programme of progressive pensions reform.
Author: Great Britain. Pensions Commission Publisher: The Stationery Office ISBN: 9780117027824 Category : Business & Economics Languages : en Pages : 20
Book Description
This document summarises the first report by the Pensions Commission, an independent body established by the Government (following the publication of the Pensions Green Paper ("Simplicity, security and choice: working and saving for retirement", Cm 5677, ISBN 0101567723) in December 2002) in order to review the adequacy of current arrangements for private pensions and retirement savings in the UK and to make recommendations on appropriate policy changes. The report sets out the Commission's detailed analysis of the current situation and trends in place, challenges identified and options for policy responses; and seeks to stimulate a structured, comprehensive fact-based debate about the problems facing Britain's pension system which can contribute to the development of a sustainable pensions policy. The Commission's second report is planned for Autumn 2005 and this will include specific policy recommendations, following a public consultation period to the end of January 2005. The main report ((ISBN 0117027804) and a pack containing the report, appendices and executive summary documents (ISBN 0117027812) are available separately.
Author: Hugh Pemberton Publisher: Manchester University Press ISBN: 1526146517 Category : Political Science Languages : en Pages : 366
Book Description
This book examines the Thatcher government’s attempt to revolutionise Britain’s pensions system in the 1980s and create a nation of risk-taking savers with an individual stake in capitalism. Drawing upon recently-released archival records, it shows how the ideas motivating these reforms journeyed from the writings of neoliberal intellectuals into government and became the centrepiece of a plan to abolish significant parts of the UK’s welfare state and replace these with privatised personal pensions. Revealing a government that veered between political caution and radicalism, the book explains why this revolution failed and charts the malign legacy left by the evolutionary changes that ministers salvaged from the wreckage of their reforms. The book contributes to understanding of policy change, Thatcherism, and international neoliberalism by showing how major reforms to social security could reflect neoliberal thought and yet profoundly disappoint their architects.
Author: Kathleen Burk Publisher: Yale University Press ISBN: 0300057288 Category : Business & Economics Languages : en Pages : 298
Book Description
In this authoritative and gripping book--the first full account of the 1976 International Monetary Fund crisis--Kathleen Burk and Alec Cairncross peel back the surface of the most searing economic crisis of postwar Britain to reveal its historical roots and contemporary context. During the spring of 1976, the plummeting value of the British pound against the U.S. dollar triggered a traumatic economic and political crisis. International confidence in the pound collapsed; an article in the Wall Street Journal, headlined "Good-bye, Great Britain," urged investors to get out of sterling. Refused aid by the London and New York markets, the Labour Government under Prime Minister James Callaghan was forced to turn for help to the IMF--a highly unusual move for a developed Western economy. Fearing that the economic crisis would drive Britain into a left-wing siege economy which would endanger NATO and the EEC, the United States and Germany used the IMF loan as a means to force Britain to make major domestic policy changes; when the IMF mission arrived in London in November 1976, it was announced that the price for the loan included deep cuts in domestic spending. Burk and Cairncross uncover the maneuvers of the Labour Government to evade IMF conditions. They also examine underlying economic factors, the political agenda, the rise of monetarist ideas, and the Keynesian response. Juxtaposing narrative with analysis, they provide surprising answers to critical questions and reveal how the breakdown of the post-war consensus on the macroeconomic management paved the way for the triumph of Thatcherism.
Author: OECD Publisher: OECD Publishing ISBN: 9264876103 Category : Languages : en Pages : 224
Book Description
The 2019 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the last two years. Moreover, two special chapters focus on non-standard work and pensions in OECD countries, take stock of different approaches to organising pensions for non-standard workers in the OECD, discuss why non-standard work raises pension issues and suggest how pension settings could be improved.
Author: Hugh Pemberton
Author: Hugh Pemberton
Author: Peter Morris
Author: David Blake
Author: Craig Berry
Author: paul bridgen
Author: Great Britain. Pensions Commission
Author: Hugh Pemberton
Author: Kathleen Burk
Author: OECD
Author: