scholarly journals Income growth in the United Kingdom during late career and after retirement: growing inequalities after deindustrialisation, educational expansion and development of the knowledge-based economy

2021 ◽  
pp. 1-28
Author(s):  
Alberto Veira-Ramos ◽  
Paul Schmelzer
Keyword(s):  
United Kingdom ◽  
Social Inequalities ◽  
Private Pension ◽  
Highly Qualified ◽  
Pension Income ◽  
The United Kingdom ◽  
Pension Schemes ◽  
Knowledge Based Economy ◽  
Educational Groups ◽  
Male Workers

Abstract This article shows how late-life incomes from work and pensions evolved in the United Kingdom between 1991 and 2007, the year the Great Recession began. Our main contribution comes from focusing on changes across cohorts in different educational groups while also considering the gender divide. Our statistical analyses based on the British Household Panel Survey (BHPS) suggest that deindustrialisation, the expansion of jobs in the knowledge economy and pension reforms affected senior workers’ incomes before and after retirement. Highly qualified senior male workers have profited from increasing income across the cohorts more than any other social group. Such a trend is not observed among highly qualified female workers. Male and female low-qualified senior workers do not show major income loses, but have not benefited to the same extent as highly educated male workers. As a result, pension income inequalities between highly qualified men and the rest have increased. The increasing pensions gap between educational groups can be traced back to the improving situation on the labour market for highly qualified male workers, and to reforms benefiting private pension schemes, where the highly qualified are overrepresented. Thus, the shift in pension provisions towards private pension schemes is clearly disadvantageous for low-qualified male workers and for women of all educational levels, and contributes to the increase of social inequalities.

scholarly journals Ethnic elders and pension protection in the United Kingdom

2016 ◽  
Vol 37 (5) ◽  
pp. 1025-1049 ◽  
Author(s):  
ATHINA VLACHANTONI ◽  
ZHIXIN FENG ◽  
MARIA EVANDROU ◽  
JANE FALKINGHAM
Keyword(s):  
United Kingdom ◽  
Later Life ◽  
The State ◽  
Private Pension ◽  
Private Pensions ◽  
Pension Income ◽  
The United Kingdom ◽  
Specific Analysis ◽  
State Pension ◽  
To Receive

ABSTRACTPension receipt in later life is determined by the way in which individuals' pension contributions and circumstances over the lifecourse interact with eligibility rules. Within the British context, such pensions relate to sources such as the State Pension, an occupational or private pension, and Pension Credit. Existing research shows that membership of certain ethnic groups is associated with a lower likelihood of receiving occupational or private pensions. Data from Understanding Society allows us to build on existing evidence by examining the factors associated with the receipt of three different kinds of pension income – State, occupational/private and Pension Credit – among older men and women from separate Black and Minority Ethnic (BME) groups. The results show that belonging to certain BME groups reduces one's chances of receiving the State Pension or an occupational/private pension, but increases the chance of receiving Pension Credit. The gender-specific analysis shows that these results hold true for many BME groups of men, whereas among women, only Pakistani women are less likely than White British women to receive an occupational/private pension. Such findings provide up-to-date empirical evidence that ethnic inequalities in pension protection are still evident and contribute to the increasingly important debate in the United Kingdom and elsewhere regarding migrants' social security and welfare over the lifecourse and in later life.

Is there a link between low parental income and childhood obesity?

2015 ◽  
Vol 15 (3) ◽  
pp. 238-255 ◽  
Author(s):  
Nichola Shackleton
Keyword(s):  
United Kingdom ◽  
Weight Status ◽  
Social Inequalities ◽  
Child Obesity ◽  
Income Poverty ◽  
Regression Analyses ◽  
Child Weight ◽  
The United Kingdom ◽  
Childhood Weight ◽  
Increased Risk

The association between familial socioeconomic status and child obesity has created the expectation that low familial income increases the risk of child obesity. Yet, there is very little evidence in the United Kingdom to suggest that this is the case. This article focuses on whether low familial income and family poverty are associated with an increased risk of child obesity. Data from the Millennium Cohort Study (age 7) are analysed. Sequential logistic regression analyses are used to determine whether income has a direct link to childhood weight. The results show no direct relationship between familial income/poverty and weight in childhood. Numerous robustness checks provide considerable evidence that low familial income has no association with children’s weight status in the United Kingdom. The results demonstrate that social inequalities in child weight are not driven by differences in income.

State and Private Pension Schemes in the European Economic Community and the United Kingdom

1963 ◽  
Vol 89 (3) ◽  
pp. 157-225 ◽  
Author(s):  
A. R. N. Ratcliff
Keyword(s):  
United Kingdom ◽  
European Economic Community ◽  
Customs Union ◽  
Economic Community ◽  
European Economic ◽  
The United Kingdom ◽  
Pension Schemes ◽  
Treaty Of Rome ◽  
The Common

The European Economic Community came into existence on 1 January 1958, following the ratification of the Treaty of Rome by the parliaments of the six member countries, Belgium, France, Germany, Italy, Luxembourg and the Netherlands. The long-term aim of ‘The Six’ in setting up the Community was to achieve a unified economic unit with a common economic policy, and whilst commonly referred to in the United Kingdom as the Common Market it should not be thought of merely as an advanced form of customs union.

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.

Pension Schemes and Pension Funds in the United Kingdom.

ILR Review ◽  
1997 ◽  
Vol 50 (3) ◽  
pp. 518
Author(s):  
Richard Disney ◽  
David Blake
Keyword(s):  
United Kingdom ◽  
Pension Funds ◽  
The United Kingdom ◽  
Pension Schemes

Degrees of Freedom: Do Graduate Women escape the Motherhood Gap in Pensions?

2002 ◽  
Vol 7 (2) ◽  
pp. 1-17 ◽  
Author(s):  
Jay Ginn ◽  
Sara Arber
Keyword(s):  
Degrees Of Freedom ◽  
Private Pension ◽  
Full Time ◽  
Pension Income ◽  
Educational Groups ◽  
Pension Coverage ◽  
Women's Earnings ◽  
Lifetime Earnings ◽  
Full Time Employment ◽  
The Impact

British women's increasing levels of educational attainment have led to expectations of gender convergence in employment patterns and hence in lifetime earnings and pension income. However, it is not clear how far losses due to motherhood vary with educational qualifications. A polarisation in mothers’ employment is evident, according to whether women have high levels of educational and occupational capital and some writers have suggested that a young graduate mother is likely to maintain almost continuous full time employment, with minimal loss of lifetime earnings and no loss of pension income. This paper uses data from the British General Household Surveys from 1994-1996 to examine how the impact of childrearing on women's full and part time employment, earnings and private pension coverage varies according to educational level. Less than half of women with dependent children were employed full time in all educational groups, including graduates. Even among women graduates, only a third of those with a pre- school child were in full time employment. Motherhood substantially reduced women's earnings and private pension coverage at all educational levels, indicating the scale of losses in lifetime earnings and hence in private pension entitlements. The motherhood gap in private pension coverage was least for graduates and greatest for mid-skilled women but in view of the amount of the motherhood gap among graduates it is concluded that the pension protective effect of a degree for mothers has been overstated.

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.

The supervision and control of pension funding in the United Kingdom

1993 ◽  
Vol 120 (1) ◽  
pp. 67-129
Author(s):  
D. J. D. McLeish ◽  
C. M. Stewart
Keyword(s):  
United Kingdom ◽  
Defined Benefit ◽  
Pension Funding ◽  
The United Kingdom ◽  
Pension Schemes ◽  
And Control

AbstractThis paper looks at the existing controls on minimum funding standards and the solvency of defined benefit pension schemes in the United Kingdom. It considers the definition and disclosure of solvency margins and then goes on to look at the operation of a ‘Pensioners’ Protection Fund which would underwrite the solvency of schemes in a winding-up. With submissions due to the Goode Committee before the end of 1992, this paper will provide a well-timed opportunity to discuss some of the issues to be addressed by that Committee.

Insured Group Pension Plans and Ancillary Benefits

1973 ◽  
Vol 99 (1) ◽  
pp. 19-67
Author(s):  
D. E. Fellows
Keyword(s):  
United Kingdom ◽  
Group Scheme ◽  
Pension Plans ◽  
Ancillary Benefits ◽  
The United Kingdom ◽  
Pension Schemes ◽  
Group Basis

1.1. Pension schemes and other plans written on an insured group basis present some of the most fascinating, challenging and paradoxical aspects of life offices’ business in the United Kingdom.1.2. The fascination stems from each group scheme being a unique, unpredictable and sensitive unit, covering perhaps just a handful of lives or possibly many thousands of lives. Once established it may thrive and grow indefinitely.

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