The Development of Private Pension Schemes and the Pension Reform

Carlo Gola and Alessandro Roselli

Chapter 3 in The UK Banking System and Its Regulatory and Supervisory Framework, 2009, pp 48-56 from Palgrave Macmillan

Abstract: Abstract Earlier, we considered households’ substantial and growing investment in pension saving. This investment is closely related to the limited role of public pensions. The interaction between public and private pensions is easier to understand if set against a historical background. UK private pension provision, both occupational and personal, has roots reaching far back into the past. Its growth was subsequently influenced to a considerable extent by the birth and successive reforms of public pension provision.1 These reforms have become stratified over time, making the pension system extremely complex and very difficult to reform radically. In this respect reference has been made to the path-dependent nature of pensions and stress placed on the ‘problem of history for any radical reform of British pensions’.2

Keywords: Pension Fund; Pension System; Pension Scheme; Private Pension; State Pension (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-23577-9_3

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DOI: 10.1057/9780230235779_3

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