Pension reform in the United Kingdom: an economic perspective

| Publication date: 3 Aug 2016 | Theme: Britain & Finance | External Author(s): Disney, R | JEL Classification: H55, J32, G22 | Journal: National Institute Economic Review Issue 237 | Publisher: Sage Publications, London

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.

Keyword tags: 
pension reform
employer-provided pensions
annuities

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