Journal of Comparative Social Welfare, 25(2), June 2009, pp.99-107.
Publisher:
Taylor and Francis
... in the literature and develops a two-dimensional scheme of four different concepts. It is argued that pensions based on industrial agreements may compensate to a certain degree for solidarity losses caused by retrenchment policies.
Within the literature of welfare state retrenchment, the “solidarity-decline thesis” is discussed. It is argued that the privatisation of pension schemes leads to a decrease of solidarity. On the basis of an empirical analysis of collective agreements on pension in the Netherlands, Denmark, Germany and France, this article discusses this thesis. It reviews concepts of solidarity used in the literature and develops a two-dimensional scheme of four different concepts. It is argued that pensions based on industrial agreements may compensate to a certain degree for solidarity losses caused by retrenchment policies.
Journal of Comparative Social Welfare, 25(2), June 2009, pp.109-117.
Publisher:
Taylor and Francis
For much of the relevant literature, the “Anglo-liberal” model is the least satisfactory approach to the provision of retirement pensions. This article addresses a particular aspect of the Anglo-liberal model, the investment of retirement savings in equities and other interest-bearing assets, to augment retirement benefits. The management of such investment pays insufficient attention
For much of the relevant literature, the “Anglo-liberal” model is the least satisfactory approach to the provision of retirement pensions. This article addresses a particular aspect of the Anglo-liberal model, the investment of retirement savings in equities and other interest-bearing assets, to augment retirement benefits. The management of such investment pays insufficient attention to the externalities that may arise from corporate decision-making. Nevertheless, several US pension funds have embraced labour-friendly investment practices, which are vital to the well-being of employees, as well as the maintenance of sustainable and vibrant communities. In this respect, the Anglo-liberal model is not necessarily at variance with the demands of social justice and inclusion.
Journal of Comparative Social Welfare, 25(2), June 2009, pp.119-127.
Publisher:
Taylor and Francis
For a growing number of social policy analysts, the privatisation of pensions should be understood as an integral element of welfare retrenchment. Driven by the core values of “neo-liberalism”, it is intended to diminish collective responsibility for retirement income futures. We take issue with this characterisation of pensions privatisation. A cross-national comparative analysis of mandated private pensions suggests that the market orientation of their design is generally ambivalent. While the architects of these arrangements have embraced market principles, they have also accepted the principle of collective responsibility. The privatisation of pensions has not been informed, universally or comprehensively, by the core values of neo-liberalism.
For a growing number of social policy analysts, the privatisation of pensions should be understood as an integral element of welfare retrenchment. Driven by the core values of “neo-liberalism”, it is intended to diminish collective responsibility for retirement income futures. We take issue with this characterisation of pensions privatisation. A cross-national comparative analysis of mandated private pensions suggests that the market orientation of their design is generally ambivalent. While the architects of these arrangements have embraced market principles, they have also accepted the principle of collective responsibility. The privatisation of pensions has not been informed, universally or comprehensively, by the core values of neo-liberalism.
Subject terms:
pensions, privatisation, social policy, comparative studies;
... policies. In particular in the light of 2007 legislation, this article surveys reforms affecting the contributory principle that have been undertaken since the Committee's report. It argues that erosion of the contributory principle has continued apace in the area of working-age benefits, but that, albeit in the long term, current policy in the area of pensions promises to take the system to an extent
The UK's post-war benefit system, established following the report of William Beveridge, was based on the contributory principle of benefits being payable in return for contributions made. In 2000 the UK Parliamentary Select Committee on Social Security reported on the contributory principle concluding that it had been undermined in major part directly as a result of successive governments' policies. In particular in the light of 2007 legislation, this article surveys reforms affecting the contributory principle that have been undertaken since the Committee's report. It argues that erosion of the contributory principle has continued apace in the area of working-age benefits, but that, albeit in the long term, current policy in the area of pensions promises to take the system to an extent 'back to Beveridge' but also in a welcome but decidedly un-Beveridgean direction.
The Pensions Service and the Disability and Carers Service merged to form a new executive agency called the Pension, Disability and Carers Service (PDCS) in April 2008. The merger is still largely invisible to customers and stakeholder organisations since the PDCS has continued to use the existing TPS and DCS brands. However the two agencies will increasingly operate as a single entity under
The Pensions Service and the Disability and Carers Service merged to form a new executive agency called the Pension, Disability and Carers Service (PDCS) in April 2008. The merger is still largely invisible to customers and stakeholder organisations since the PDCS has continued to use the existing TPS and DCS brands. However the two agencies will increasingly operate as a single entity under the PDCS banner to integrate the two services more effectively. The objectives of this research were to help the PDCS understand how best to continue working in partnership with its key stakeholders by exploring ‘what works’ in consultation and partnership activity through a brief scoping stage, by examining external organisations’ perceptions of the effectiveness of PDCS’ consultation, partnership activity and working relationships and what drives them, and by helping to develop a set of questions which can be used by PDCS to measure and monitor the effectiveness of its consultation, partnership activity and working relationships in the future.
Subject terms:
organisational structure, organisations, pensions, service users, social care provision, carers, disabilities;
Journal of Comparative Social Welfare, 25(2), June 2009, pp.147-155.
Publisher:
Taylor and Francis
Like other Western countries, the United States has a pluralist system of retirement provision that has been managed by the state and has worked well. However, this system is changing as defined-benefit occupational pensions are gradually being replaced by individual retirement accounts and as efforts to privatise the Social Security system have intensified. This trend is indicative of a gradual
Like other Western countries, the United States has a pluralist system of retirement provision that has been managed by the state and has worked well. However, this system is changing as defined-benefit occupational pensions are gradually being replaced by individual retirement accounts and as efforts to privatise the Social Security system have intensified. This trend is indicative of a gradual shift towards a welfare consumerist system in which retirement accounts play a vital role. The implications of this trend for the future of retirement-income protection in the United States are considered.
Subject terms:
occupational pensions, pensions, personal pensions, privatisation, social welfare, benefits;
Journal of Comparative Social Welfare, 25(2), June 2009, pp.129-137.
Publisher:
Taylor and Francis
... for individuals across a range of circumstances under the multi-pillar retirement systems of Britain, Germany, Italy, the Netherlands and Switzerland. The findings show that the public pensions model may compare unfavourably with systems that rely substantially on privately administered provision when both are appraised in terms of distributive justice. In just systems, what counts is the role and scope
Egalitarian liberal justice requires redistributive income transfers to protect the basic liberties of all citizens, yet it has been asserted that privatisation is fundamentally inegalitarian, and therefore likely to impair the autonomy of the least advantaged. This article assesses the redistributive potential of public and private pension arrangements by simulating the probable outcomes for individuals across a range of circumstances under the multi-pillar retirement systems of Britain, Germany, Italy, the Netherlands and Switzerland. The findings show that the public pensions model may compare unfavourably with systems that rely substantially on privately administered provision when both are appraised in terms of distributive justice. In just systems, what counts is the role and scope of the public authority in framing and securing compliance with egalitarian aims and objectives, not the locus of retirement scheme administration.
Subject terms:
pensions, private sector, privatisation, public sector, rights, social welfare;
This article provides a brief overview of five small financial inclusion research projects which focus on how factors and policies inhibit or encourage personal autonomy and social mobility, specifically in the area of ethnicity. The projects are in the areas of: bank machines and ethnicity; assets and ethnicity; savings; financial advice; and pensions.
This article provides a brief overview of five small financial inclusion research projects which focus on how factors and policies inhibit or encourage personal autonomy and social mobility, specifically in the area of ethnicity. The projects are in the areas of: bank machines and ethnicity; assets and ethnicity; savings; financial advice; and pensions.
Subject terms:
pensions, personal finance, savings, social inclusion, black and minority ethnic people, ethnicity;
Journal of European Social Policy, 19(4), October 2009, pp.359-376.
Publisher:
Sage
The economic conditions of the elderly and the incidence of financial distress among ageing households are of major policy interest, as older households have less ability to offset income and expenditure shocks by varying their labour supply or by borrowing against future income. This article provides a comprehensive description of the characteristics of income and wealth distribution among Europeans aged 65 and over, and explores the role of income and wealth in supporting consumption in old age. The data was drawn from the first wave of the Survey of Health, Ageing and Retirement in Europe (SHARE) and focused on households where the household head was over 65 years of age, which typically rely on pension income and asset decumulation. It looks at how cross-country comparisons of income, wealth and debt are affected by differences in purchasing power, household size and taxation, and shows that some seemingly wide international differences appear less so when the proper adjustments are made. The article reveals wide differences in income, wealth and indebtedness of elderly households in Europe, and provides background information on social issues such as the adequacy of savings at retirement, and the financial fragility of the elderly.
The economic conditions of the elderly and the incidence of financial distress among ageing households are of major policy interest, as older households have less ability to offset income and expenditure shocks by varying their labour supply or by borrowing against future income. This article provides a comprehensive description of the characteristics of income and wealth distribution among Europeans aged 65 and over, and explores the role of income and wealth in supporting consumption in old age. The data was drawn from the first wave of the Survey of Health, Ageing and Retirement in Europe (SHARE) and focused on households where the household head was over 65 years of age, which typically rely on pension income and asset decumulation. It looks at how cross-country comparisons of income, wealth and debt are affected by differences in purchasing power, household size and taxation, and shows that some seemingly wide international differences appear less so when the proper adjustments are made. The article reveals wide differences in income, wealth and indebtedness of elderly households in Europe, and provides background information on social issues such as the adequacy of savings at retirement, and the financial fragility of the elderly.
Journal of European Social Policy, 19(4), October 2009, pp.341-358.
Publisher:
Sage
This article sheds light on the complex retirement patterns which have emerged in Europe during recent decades. They are very different among European countries, in spite of similar trends in mortality. There are 2 possible explanations for this: institutional differences and health differences. The aim of this article was to examine the relative weight of these 2 explanations. It used data from the first 2 waves of the Survey of Health, Ageing and Retirement in Europe (SHARE) to investigate the role of pension and social security institutions in shaping the European patterns of work and retirement and to provide a careful account of the health status of respondents. The article concludes that, while health is an important determinant of earlier retirement within each country, it does not explain the large cross-national variation. Rather, institutional differences in welfare systems almost exclusively drive the distribution and the age pattern of labour-force participation and retirement. Countries in which early retirement is easy and carries generous benefits generate a high prevalence of early retirees. The study also looked at health status and disability-benefit recipiency, concluding that the variation in rates across Europe is due to the minimum level of disability that an applicant must demonstrate in order to obtain full benefits. Finally, the article discusses the unused labour capacity of healthy individuals no longer in the labour force and argues that politicians need to exploit this capacity in order to reduce the burden on pension systems and benefits.
This article sheds light on the complex retirement patterns which have emerged in Europe during recent decades. They are very different among European countries, in spite of similar trends in mortality. There are 2 possible explanations for this: institutional differences and health differences. The aim of this article was to examine the relative weight of these 2 explanations. It used data from the first 2 waves of the Survey of Health, Ageing and Retirement in Europe (SHARE) to investigate the role of pension and social security institutions in shaping the European patterns of work and retirement and to provide a careful account of the health status of respondents. The article concludes that, while health is an important determinant of earlier retirement within each country, it does not explain the large cross-national variation. Rather, institutional differences in welfare systems almost exclusively drive the distribution and the age pattern of labour-force participation and retirement. Countries in which early retirement is easy and carries generous benefits generate a high prevalence of early retirees. The study also looked at health status and disability-benefit recipiency, concluding that the variation in rates across Europe is due to the minimum level of disability that an applicant must demonstrate in order to obtain full benefits. Finally, the article discusses the unused labour capacity of healthy individuals no longer in the labour force and argues that politicians need to exploit this capacity in order to reduce the burden on pension systems and benefits.