Introduction to Pension Schemes

Charles Sutcliffe

Chapter 1 in Finance and Occupational Pensions, 2016, pp 1-41 from Palgrave Macmillan

Abstract: Abstract Attitudes towards old people have shown a very marked change over the past 100 years. In 1914 Ignatz Leo Nascher wrote the following in the preface to one of the first gerontology textbooks: ‘We realise that for all practical purposes the lives of the aged are useless, that they are often a burden to themselves, their family and the community at large. Their appearance is generally unaesthetic, their actions objectionable, their very existence often an incubus to those who in their humanity or duty take upon themselves the care of the aged.’ However, during the last century there has been a substantial change in attitudes towards the elderly, and a more optimistic view of being old was provided by the French entertainer Maurice Chevalier who said that ‘Old age isn’t so bad, when you consider the alternative’ (Morris and Palmer 2011). Over the 100 years since Nascher wrote his preface, pension systems have been developed around the world to provide for the retired.

Keywords: Gross Domestic Product; Pension Fund; Pension System; Default Risk; Pension Scheme (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-94863-5_1

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DOI: 10.1057/978-1-349-94863-5_1

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