The Trouble With Final Salary Pension Schemes

Silver, Nick

doi:10.1111/j.1468-0270.2006.00670.x

Cited by 4 publications

(4 citation statements)

References 5 publications

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“…One fifth of all contributions to private pensions come from tax relief (PPI, 2004). Silver (2006) believes that the real cost of tax relief on non-state pension contributions is as much as £28.9 billion per annum, more than half of which goes to 2.5 million high-rate taxpayers. Therefore, 'tax benefits provide most support to the most well-off, less to the average and very little to the lower-paid and the poor' (Sinfield, 2000: 141).…”

Section: The History Of Private Pensionsmentioning

confidence: 99%

Privatisation and pensions: what does this mean for women?

Foster¹

2011

J. Poverty Soc. Justice

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This paper considers the relationship between gender and private pension provision. It provides a brief history of private pensions before considering the implications of pension policy on women's private pension situation under New Labour and, briefly, the coalition government. For instance, there has been an emphasis on neoliberal concerns of private saving and individual responsibility as a means of reducing expenditure and encouraging long-term sustainability. The paper suggests that the focus on individual responsibility in pension saving leaves many women ill-equipped to save and dependent on means-tested pension provision, largely as a result of intermittent work histories.

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Section: The History Of Private Pensionsmentioning

confidence: 99%

Privatisation and pensions: what does this mean for women?

Foster¹

2011

J. Poverty Soc. Justice

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“…The United States retirement system is also projected to be in greater negative balance (from negative 6 trillion to negative 60 trillion) by 2070 (Lee and Skinner, 1999). Seven pension funds in Israel are also confronting a severe problem where their pension funds will face liquidity crisis and they will be unable to meet their obligations in the future (Silver, 2006). The United Kingdom government is also having problems of increasing pension spending where they spent over 100 billion pounds (about thirty percent of total public spending) in 1998-1999 in their pension system (Banks and Emmerson, 2000).…”

Section: Pension Literaturementioning

confidence: 99%

“…The United Kingdom government is also having problems of increasing pension spending where they spent over 100 billion pounds (about thirty percent of total public spending) in 1998-1999 in their pension system (Banks and Emmerson, 2000). Also, the final salary pension scheme in the United Kingdom is having a crisis with sixty eight percent of schemes closed to new entrants and ten percent closed to the accrual of new pensions (Silver, 2006). This problem is mainly caused by the cost of pension plan that is dramatically increasing and volatile.…”

Section: Pension Literaturementioning

confidence: 99%

Using Causal Loop Diagram in Understanding Financial Activities of Malaysia Pension Fund

Sapiri

Ahmad

Aziz

et al. 2013

Global J. Bus. Soc. Sci. Review

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Objective - The aim of the article is to present the development of a simulation framework which identifies Malaysia Pension Fund main sources as well as the financial activities. Methodology/Technique - Numerous factors influencing the financial condition pension fund are summarized. Based on the set of system factors in literature summarization, causal loop diagram is used to analyse the inter-relationships among these factors. Findings - Causal loop diagram shows a relationship between these factors, which can be used in analysing financial condition of a pension fund. In the developed causal loop diagram, it shows the main sources of Malaysia pension fund, the asset allocation, and the future benefit payment. Novelty - The causal loop diagram will then, be used as a dynamic hypothesis of this study and serves as a basis for quantitative models. Type of Paper: Review Keywords: ,Pension Fund, Financial Activities, Simulation, Causal Loop Diagram.

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“…Tax relief on non-state pension contributions in 2005/6 was estimated by the British government to cost £14.3 billion, but this too was acknowledged to be an underestimate the following year when the figure was revised up to £17.4 billion for the year (HMRC, 2006, 2007: Table 9). Some observers believe that the real cost is much higher and could be as much as £28.9 billion per annum (Silver, 2006: 54). These sums need to be seen in the context of the Institute for Fiscal Studies (Brewer et al ., 2007) report that concluded that £15.2 billion spent on raising the value of the public pension (basic state pension) would tackle pensioner poverty.…”

Section: Fiscal Welfarementioning

confidence: 99%

Remembering and Rethinking the Social Divisions of Welfare: 50 Years On

Mann¹

2009

J. Soc. Pol.

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This article revisits Titmuss's essay on the Social Divisions of Welfare (SDW) and reflects on its continuing relevance. Titmuss first presented the SDW in an Eleanor Rathbone Memorial lecture at Birmingham University in 1955, but it is best known from his Essays on the Welfare State published in 1958. Titmuss challenged the stereotype of 'welfare' as simply public welfare dependency and illustrated the different elements of the SDW. Some limitations of Titmuss's approach are identified, notably in relation to how he saw dependency arising, and revisions offered. The article provides a number of examples from the UK but also highlights some significant parallels with the SDW in the USA and Australia, 1 the so-called 'liberal welfare regimes' (Esping-Andersen, 1990). Finally, it is claimed that 50 years on we need to be reminded of the insights and analytical potential of Titmuss's essay.

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The Trouble With Final Salary Pension Schemes

Cited by 4 publications

References 5 publications

Privatisation and pensions: what does this mean for women?

Privatisation and pensions: what does this mean for women?

Using Causal Loop Diagram in Understanding Financial Activities of Malaysia Pension Fund

Remembering and Rethinking the Social Divisions of Welfare: 50 Years On

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