Chapter

Anglo-Saxon Occupational Pensions in International Perspective

Steven Sass

in Britain's Pensions Crisis

Published by British Academy

Published in print October 2006 | ISBN: 9780197263853
Published online February 2012 | e-ISBN: 9780191734281 | DOI: http://dx.doi.org/10.5871/bacad/9780197263853.003.0013

Series: British Academy Occasional Papers

Anglo-Saxon Occupational Pensions in International Perspective

Show Summary Details

Preview

Occupational pensions are today a major ‘second tier’ in Anglo-Saxon retirement income systems, providing benefits to a significant portion of the elderly population atop the basic ‘first tier’ benefits provided by the state. In the United States, for example, employer plans provide one-fifth of the income of the elderly — one-quarter if earnings from work are excluded — half the amount provided by public plans. By the end of the 1930s, employer pension plans had become standard in governments and mature big businesses throughout the industrial world. They had become critical tools for strengthening, then severing, relationships with workers. Britain took a different tack to strengthening employer plans. It primarily leveraged the contracting-out provisions in the State Earnings-related Pension Scheme (SERPS), introduced in 1978.

Keywords: Britain; United States; Anglo-Saxon; occupational pensions; retirement income; employer plans; State Earnings-related Pension Scheme

Chapter.  5385 words.  Illustrated.

Subjects: Political Theory

Full text: subscription required

How to subscribe Recommend to my Librarian

Buy this work at British Academy »

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.