Chapter

Pension Reform in the United Kingdom: Increasing the Role of Private Provision?

Gordon L. Clark

in Pension Security in the 21st Century

Published in print November 2003 | ISBN: 9780199261765
Published online August 2004 | e-ISBN: 9780191601248 | DOI: http://dx.doi.org/10.1093/0199261768.003.0008
 Pension Reform in the United Kingdom: Increasing the Role of Private Provision?

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This chapter examines pension reform in the UK. It argues that future reform of the UK pension system is unnecessary to make it sustainable in terms of costs. Forecast expenditures can be met without tax increases due to large cuts to the state pension system in the last 20 years. However, whether the current system is politically sustainable remains uncertain. Given that a rising percentage of the electorate will be aged over the state pension age, what they expect with regards to retirement income may impact current pension system.

Keywords: United Kingdom; pension reform; pension system; pension coverage; pension costs; public-private divide

Chapter.  10103 words.  Illustrated.

Subjects: Financial Markets

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