Social Security and Occupational Pension Schemes

1968 ◽  
Vol 94 (2) ◽  
pp. 173-253
Author(s):  
C. S. S. Lyon
Keyword(s):  
United Kingdom ◽  
Social Security ◽  
Pension Scheme ◽  
Original Form ◽  
Occupational Pension ◽  
Social Security Systems ◽  
Flat Rate ◽  
The United Kingdom ◽  
Pension Schemes ◽  
National Insurance

Since the idea of a wage-related national pension scheme was first launched in tangible form by the publication in 1957 of the Labour Party's ‘National Superannuation’ plan there has been a state of uneasy coexistence between national and occupational pension schemes in the United Kingdom. Social security systems providing not merely basic flat-rate benefits, but also benefits related to earnings, had been in existence for some years in other European countries, but it was not until the National Insurance Act, 1959 took effect in April 1961 that a national graduated pension scheme became a reality in the United Kingdom. Established at a modest level and designed primarily as a means of raising revenue to meet the rising outgo on flat-rate benefits, this graduated scheme has never seemed likely to endure in its original form. Nevertheless the National Insurance Act, 1966 has grafted on to it a scheme to provide short-term graduated sickness, unemployment and widows' benefits.

Social Security and Occupational Pension Schemes

1966 ◽  
Vol 30 ◽  
pp. 299-385
Author(s):  
C. S. S. Lyon
Keyword(s):  
Social Security ◽  
Pension Scheme ◽  
Occupational Pension ◽  
Future Developments ◽  
The United Kingdom ◽  
Pension Schemes ◽  
National Insurance ◽  
Public Scrutiny ◽  
The Government ◽  
State Pension

SynopsisSocial security in the United Kingdom is at a crossroads. Should it become more selective, and if so, what form should the selectivity take ? Should the traditional methods of finance be changed ? What is to be done about the pockets of poverty which still exist ?Occupational pension schemes, too, are coming increasingly under public scrutiny. Are they fulfilling their role adequately ? In what ways do they need to be improved ?The Government is expected to announce next year its proposals for a new State pension scheme. These seem likely to include a change in the financing of National Insurance benefits generally. They may contain features which could set the State scheme and occupational schemes on a collision course.The paper examines some of the issues involved and indicates lines along which future developments might take place. It concludes by describing a way in which State and occupational schemes could continue to work in partnership.

The Interaction Between State and Occupational Pension Schemes in the United Kingdom

1975 ◽  
Vol 35 ◽  
pp. 199-280
Author(s):  
W. B. McBride
Keyword(s):  
United Kingdom ◽  
Social Security ◽  
Point Of View ◽  
Pension Scheme ◽  
Occupational Pension ◽  
Scheme Design ◽  
The United Kingdom ◽  
Pension Schemes ◽  
Pension Scheme Design ◽  
The Social

SynopsisThe paper discusses the implications of the Social Security Pensions Act 1975 and associated Regulations for occupational pension scheme design and finance. Firstly, a general preface deals with currently topical matters. Secondly, integration of State and Occupational Schemes as practised up to the present time is described. Next, integration in future, whether contracted in or contracted out, is considered from the scheme design point of view, and some problems are mentioned. Finally, the financial background to the contracting-out conditions is described and some evaluation made of the terms available.

Modelling the reverse select and ultimate mortality experience of UK ill-health retirement occupational pension scheme members

2016 ◽  
Vol 10 (2) ◽  
pp. 222-235 ◽  
Author(s):  
Mary Hall ◽  
Linda Daly
Keyword(s):  
Mortality Rates ◽  
Pension Scheme ◽  
Retirement Age ◽  
Occupational Pension ◽  
Mortality Experience ◽  
The United Kingdom ◽  
Pension Schemes ◽  
Males And Females ◽  
Effect Of Age ◽  
Normal Health

AbstractRetirements from the workforce can be split between those who are forced to retire early specifically for health reasons referred to as ill-health retirements and all other retirements referred to as normal-health retirements. Rates of ill-health retirement increase with age and are higher for females than males. Consequently, the mortality experience of ill-health retirement pensioners will become more important in the future as pension schemes increase their normal retirement age in line with increases in life expectancy and the proportion of women in the workforce and therefore in occupational pension schemes increases. This paper seeks to model the mortality of ill-health retirements from occupational pension schemes in the United Kingdom in the period immediately following retirement (reverse select mortality) and over the longer term (ultimate mortality) allowing for age at retirement. Females experience a longer reverse select period than males and for both males and females the improvement in mortality rates over the reverse select period is greatest at younger ages. Post the reverse select period the effect of age at retirement decreases over time with ultimate mortality rates converging by the mid-eighties for males and females.

Pensions: The problems of today and tomorrow. A summary of the Report published by the Institute of Actuaries and of the discussion at Staple Inn on 11 June 1985

1985 ◽  
Vol 112 (3) ◽  
pp. 407-419
Author(s):  
S. Haberman
Keyword(s):  
United Kingdom ◽  
World War Ii ◽  
National Economy ◽  
Rapid Growth ◽  
Theory And Practice ◽  
Francis Bacon ◽  
Occupational Pension ◽  
World War ◽  
The United Kingdom ◽  
Pension Schemes

From the very outset of the formation of pensions schemes in the United Kingdom, actuaries have been involved in their design, investment, valuation and solvency. A review of issues of the Journal of the Institute of Actuaries in England and the Transactions of the Faculty of Actuaries in Scotland over the last 40 years would show how schemes have become more complicated and more comprehensive, how the economic and equity problems have increased and how the actuarial profession has successfully adapted its theory and practice to accommodate change. After World War II the rapid growth in occupational pension schemes together with the post-Beveridge expansion in State social security led to concerns about the overall effect on the national economy. As a consequence, in 1954 a report on “The growth of pension rights and their impact on the national economy” was presented to both the Institute and the Faculty of Actuaries by Bernard Benjamin, Francis Bacon and Donald Elphinstone.

Reflections on the Roles of State and Occupational Pension Schemes in the United Kingdom

1973 ◽  
Vol 34 ◽  
pp. 533-594
Author(s):  
A. J. Low ◽  
P. E. Felton
Keyword(s):  
United Kingdom ◽  
White Paper ◽  
The State ◽  
Occupational Pension ◽  
The United Kingdom ◽  
Pension Schemes ◽  
State Pension ◽  
The Cost

SynopsisThe paper considers the role which the State should play in the provision of pensions to the retired population. The role of occupational schemes is also considered with particular reference to the restrictions placed on that role by the authorities through the requirements for approval for tax purposes and the cost and level of State pensions. The main features of various State pension schemes which have been proposed in successive White Papers are discussed together with their shortcomings and advantages. The White Paper “Better Pensions” and its implications for the pensions industry are then considered in greater detail.

Projections of the costs of occupational pensions

1983 ◽  
Vol 110 (01) ◽  
pp. 243-269 ◽  
Author(s):  
J. L. Field
Keyword(s):  
Pension Scheme ◽  
Insurance Fund ◽  
Occupational Pension ◽  
Occupational Pensions ◽  
Pension Schemes ◽  
National Insurance ◽  
The Government ◽  
Starting Date

1. In the three years since projections of occupational pension scheme membership and expenditure were made for the Wilson Committee more data about schemes has become available, such as that from the Government Actuary's survey of Occupational Pension Schemes 1979 (theG.A.'s Survey), so the occasion of the publication of the Government Actuary's National Insurance Fund Long Term Financial Estimate (theQuinquennial Reviewor Q.R.) has been taken to revise and extend the Wilson Committee projections, using the starting date and earnings and prices assumptions of the Q.R.

scholarly journals Adapting social protection to the needs of multiple jobholders in Denmark, the United Kingdom and Germany

2021 ◽  
pp. 102425892199103
Author(s):  
Lukas Jerg ◽  
Jacqueline O’Reilly ◽  
Karin Schulze Buschoff
Keyword(s):  
United Kingdom ◽  
Social Security ◽  
Social Protection ◽  
Social Security Systems ◽  
Security Systems ◽  
Employment System ◽  
The United Kingdom ◽  
Recent Trends ◽  
Platform Economy ◽  
Different Levels

Working in two or more jobs at the same time creates special needs in terms of social security that differ from those of standard dependent employees or the self-employed. To investigate how well social security systems adapt to multiple jobholders we examine three case studies of countries with different levels and trends in multiple jobholding: Denmark, the United Kingdom and Germany. We review recent trends and policies to address social protection gaps for multiple jobholders in these countries prior to and during the COVID-19 pandemic, and the extent to which the emergence of the ‘platform economy’ can exacerbate multiple jobholding. We conclude that attempts to resolve the gaps in social security protection reflect distinctive characteristics of each employment system.

The Role of the Government Actuary's Department in Social Security in the United Kingdom

2001 ◽  
Vol 7 (5) ◽  
pp. 765-790 ◽  
Author(s):  
C.D. Daykin
Keyword(s):  
United Kingdom ◽  
Social Security ◽  
Insurance Fund ◽  
The United Kingdom ◽  
National Insurance ◽  
The Social ◽  
The Government ◽  
Role Of The Government

ABSTRACTThe Government Actuary's Department (GAD) came into being in 1919, originally arising from the perceived importance of applying actuarial skills to the financing of the United Kingdom social security system. Whilst the GAD has changed considerably over the years, and now operates as a publicly owned consulting firm, social security and related policy and regulatory advice remain at the core of the Government Actuary's role. This paper explores the nature of the role of the GAD in the social security area, and provides examples of the scope of GAD reports on the long-term finances of the National Insurance Fund. A brief description is given of some of the other areas of GAD's work.

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