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State Pension System (state + pension_system)
Selected AbstractsTHE YOUNG HELD TO RANSOM , A PUBLIC CHOICE ANALYSIS OF THE UK STATE PENSION SYSTEMECONOMIC AFFAIRS, Issue 1 2008Philip Booth As populations age, it will become increasingly difficult to reform state pension systems. Reform will not be impossible, but the process of ,buying off' interest groups will be expensive. State pension provision must use the contributory principle combined with an accruals system , though private pension provision would be better still. There are serious flaws in the so-called ,citizens pension' much promoted by interest groups in the UK. [source] The Reform of Pension Systems: Winners and Losers Across Generations in the United Kingdom and GermanyECONOMICA, Issue 266 2000David Miles In this paper we perform simulations with a stylized model of the United Kingdom and Germany to show which generations might be gainers, and which losers, from a transition from an unfunded to a funded state pension system. We show that it is likely that more than one generation will be direct losers as a result of a transition (especially in Germany). If more than one generation are direct losers, then, in order for those generations not to be net losers, the chain of bequests (in the initial equilibrium) needs to satisfy a simple condition, which we derive and analyse. [source] Means Testing Retirement Benefits: fostering equity or discouraging savings?,THE ECONOMIC JOURNAL, Issue 528 2008James Sefton Means testing plays an important role in the UK state pension system. We use a dynamic programming model to consider the effects of a recent policy reform that reduced the marginal tax rates on private income of means tested retirement benefits from 100% to 40%. Our analysis suggests that the policy reform will encourage the poorest third of all households to both save more and delay retirement, and have the opposite effects on richer households. The policy reform provides a reasonable compromise between the distortions associated with high marginal tax rates and the costs of universal benefits provision. [source] THE YOUNG HELD TO RANSOM , A PUBLIC CHOICE ANALYSIS OF THE UK STATE PENSION SYSTEMECONOMIC AFFAIRS, Issue 1 2008Philip Booth As populations age, it will become increasingly difficult to reform state pension systems. Reform will not be impossible, but the process of ,buying off' interest groups will be expensive. State pension provision must use the contributory principle combined with an accruals system , though private pension provision would be better still. There are serious flaws in the so-called ,citizens pension' much promoted by interest groups in the UK. [source] | ||||||||||