This paper discusses the role which (funded) defined benefit private sector occupational pension schemes play in national pensions in a sub-group of OECD countries. The paper shows that in the majority of countries under consideration statutory (state) pension schemes are the main if not only source of income in retirement for most people, with occupational pensions only playing at most aRead more > Download PDF
- According to a survey by Liverpool Victoria, more parents would advise their children to buy a property rather than invest in a pension as the best way to prepare financially for retirement. This advice says a lot about the state of pensions in the UK.
- Over the last few decades, buying a property has turned out to be an excellent “investment” from an individual’s point of
- In Germany, previous grand coalition legislated for increase in state pension age from 65 years now to 67 years by 2029 to deal with challenges arising from population ageing.
- Coming out of recession, the issue has returned to the headlines, with parts of the Social Democrats, now in opposition, demanding a policy u-turn.
- Episode is interesting for other countries too
- Pension legislation often carries unintended consequences. Rushing through new statutes without thorough analysis should be avoided; otherwise it could lead to more problems than solutions.
- An expert body to superintend the process of turning statute into reality might go a long way to reform the industry and the public’s view of pensions for the better.
Recent weeksRead more > Download PDF
Only two days after presenting its austerity budget which outlined the new Government’s intended fiscal consolidation path over the course of this Parliament, the new Secretary of State for Work and Pensions, Ian Duncan Smith, announced that his Government would increase the State Pension Age (SPA) for males to 66 years by 2016. This is eight years earlier than planned by the previousRead more > Download PDF