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- Title
UK SAVINGS AND PENSIONS.
- Authors
Barrell, Ray
- Abstract
This article evaluates saving of people and allocation of income to pensioners in Great Britain. The lack of savings by Great Britain personal sector has been a matter of concern to us for some time, in part because it has been clear that inadequate provision has been made for future pension liabilities. There are of course other alternatives, including reducing the generosity of pension provision and raising the age of retirement. Increasing the participation rate may indeed be more desirable than raising saving now given that the pension problem is partly the consequence of unanticipated increases in life expectancy. In order to evaluate the amount of saving that would be necessary, one would need to make a projection of both the anticipated level of saving in the economy if no action is taken, and the time profile of extra payments to the retired that would be needed along the approach to 2050. INSET: Box B. Fiscal performance against....
- Subjects
UNITED Kingdom; SAVINGS; PENSIONS; RETIREMENT income; ECONOMIC forecasting; DEMOGRAPHY; LIFE expectancy
- Publication
National Institute Economic Review, 2004, Vol 190, p55
- ISSN
0027-9501
- Publication type
Article
- DOI
10.1177/002795010419000105