scholarly journals Can collective pension schemes work in the United Kingdom?

2012 ◽  
Vol 17 (4) ◽  
pp. 236-240
Author(s):  
Sarah Smart
Keyword(s):  
United Kingdom ◽  
The United Kingdom ◽  
Pension Schemes

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

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.

Two-Dimensional Mortality Data: Patterns and Projections

2007 ◽  
Vol 13 (3) ◽  
pp. 479-536 ◽  
Author(s):  
S. J. Richards ◽  
J. R. Ellam ◽  
J. Hubbard ◽  
J. L. C. Lu ◽  
S. J. Makin ◽  
...  
Keyword(s):  
United Kingdom ◽  
Late Life ◽  
Mortality Data ◽  
Defined Benefit ◽  
Two Dimensional ◽  
Public And Private ◽  
The United Kingdom ◽  
Pension Schemes ◽  
Pension Liabilities

ABSTRACTPatterns and trends in late-life mortality are of growing financial importance. The growth in pension liabilities, both public and private, are of crucial interest to governments, insurers and companies with defined benefit pension schemes. This paper explores the patterns in international mortality data, and draws important lessons for actuaries in the United Kingdom.

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.

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.

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