Goodbye Beveridge

Article Abstract:

The United Kingdom national insurance system was seen as involving flat-rate payments for flat-rate benefits, but this has changed over time, with higher earners paying more for flat-rate benefits. There are also means-tested benefits that can be received without paying insurance. The chancellor, Gordon Brown, has further loosened the link between payments and benefits in a bid to redistribute income and to integrate the national insurance and tax systems. There is a case for ending national insurance, but there would be political problems, and pensioners would be hit if tax were used to collect funds rather than national insurance.

Income Security, Cover Story, Economic policy, Welfare reform, Domestic economic assistance

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Unanswered questions: the government's latest ruminations on reforming private pensions show only one thing: how far it is from making up its mind

Article Abstract:

The government wants to help more people start stakeholder pensions, in which all employees share the cost of administration, but there are many questions about the issue. The cost of subsidising non-workers and low earners, as well as recent cuts in tax credits complicate the issue. Some alternative solutions for low earners are compulsory savings plans, government subsidies, and increased government rebates. Each solution is controversial, especially when considered as just one part of the huge governmental economic picture. More coordination of government policies is necessary.

Admin. of social & manpower programs, Social Security Administration, Economic aspects, Political aspects, Pension funds

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