Personal pensions and the review of the contracting-out terms

Article Abstract:

Approved Personal Pensions were introduced by the UK government in Apr 1988 to allow individuals to opt out of the State Earnings-Related Pensions Schemes (SERPS.) The government hoped to reduce SERPS' costs and increase private pension coverage. The scheme has been criticised by the National Audit Office for failing to forecast the extent of its popularity and its high cost to the National Insurance Fund. The study examines the best strategy to increase personal pension demand whilst minimising costs. It suggests the introduction of an incentive to stimulate personal pensions and the establishment of a target level.

United Kingdom

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Occupational pension schemes: prospects and reforms in the UK

Article Abstract:

Occupational pension plans are predicted to experience significant changes owing to recent trends such as the emergence of alternatives to final-salary-based schemes and the increasing tendency among employers to provide pension. Traditional final salary-defined benefit plans will still be the norm, however, despite the growing popularity of individual and group money purchase arrangements. Final salary schemes, however, will have to respond to increasing pressure for more flexibility and a less uneven spread of members' benefits.

Pension, health, and welfare funds, Pension Funds & Benefit Plans, Pension Funds, Forecasts and trends, Pensions, Defined benefit plans, Defined contribution plans

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Does it pay to work in the public sector?

Article Abstract:

Microeconomic data from the British Household Panel and General Household Surveys were used to describe how the distribution of pay differs between the public and private sectors in 1983 and in the early 1990s. Results of separate analyses revealed that women and those with intermediate-level qualifications do best in the public sector. The large differences between conditional distribution of wages in the public and private sectors were demonstrated.

Wages, Household Income, Research, Compensation and benefits, Private sector, Wages and salaries, Public employees, Government employees

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