A ‘Citizen’s Pension’, also known as a Universal Pension, is a basic amount payable to every individual over state pension age who passes a residency test. This report considers a Citizen’s Pension of at least £105 a week in 2004 terms, indexed to earnings, as this is the current minimum level of income a person over pension age would have through Pension Credit. The benefits of a Citizen’s Pension would be adequacy, simplicity, inclusion, encouragement to save, efficiency and certainty. Transition to a Citizen’s Pension would speed up the change occurring anyway to the state pension system, while improving it. With a Citizen’s Pension, the role of the state in poverty prevention is clarified, making decisions on any further state role (including enhancing voluntary or compulsory saving) clearer. No pension policy can satisfy all preferences, so a decision for a Citizen’s Pension would be made because it gives the best package overall for the long-term.There are perceived practical problems with a Citizen’s Pension, but this report suggests that some of these are misplaced, and that others can be resolved.
A ‘Citizen’s Pension’, also known as a Universal Pension, is a basic amount payable to every individual over state pension age who passes a residency test. This report considers a Citizen’s Pension of at least £105 a week in 2004 terms, indexed to earnings, as this is the current minimum level of income a person over pension age would have through Pension Credit. The benefits of a Citizen’s Pension would be adequacy, simplicity, inclusion, encouragement to save, efficiency and certainty. Transition to a Citizen’s Pension would speed up the change occurring anyway to the state pension system, while improving it. With a Citizen’s Pension, the role of the state in poverty prevention is clarified, making decisions on any further state role (including enhancing voluntary or compulsory saving) clearer. No pension policy can satisfy all preferences, so a decision for a Citizen’s Pension would be made because it gives the best package overall for the long-term.There are perceived practical problems with a Citizen’s Pension, but this report suggests that some of these are misplaced, and that others can be resolved.
Subject terms:
income, older people, pensions, poverty, standard of living;
Examines the income mobility experienced by older people living in Britain and Germany during the 1990s, and identifies the influential personal attributes and lifecourse events. The analysis uses British Household Panel Survey (BHPS) and German Socio-Economic Panel (SOEP) panel data. The comparative perspective yields insights about the different income experiences of older people in the two markedly different welfare regimes. It is found that old-age income mobility has been more pronounced in Britain than in Germany, and that in both countries its occurrence was strongly associated with changes in living arrangements, with the employment status of co-residents, and with widowhood among women. Unemployment during working life associated significantly with negative late-life income mobility. Among those on low incomes, a high share of income from an earnings-related pension had a significant and positive effect in both countries.
Examines the income mobility experienced by older people living in Britain and Germany during the 1990s, and identifies the influential personal attributes and lifecourse events. The analysis uses British Household Panel Survey (BHPS) and German Socio-Economic Panel (SOEP) panel data. The comparative perspective yields insights about the different income experiences of older people in the two markedly different welfare regimes. It is found that old-age income mobility has been more pronounced in Britain than in Germany, and that in both countries its occurrence was strongly associated with changes in living arrangements, with the employment status of co-residents, and with widowhood among women. Unemployment during working life associated significantly with negative late-life income mobility. Among those on low incomes, a high share of income from an earnings-related pension had a significant and positive effect in both countries.
Subject terms:
income, marriage, longitudinal studies, older people, pensions, socioeconomic groups, standard of living;
Corporate Document Services; Great Britain. Department for Work and Pensions
Publication year:
2002
Pagination:
96p.
Place of publication:
Leeds
The Social Fund has an important part to play in tackling pensioner poverty but, to date, take-up among older people is far lower than it is among other eligible groups. The report explores living standards among older people receiving Minimum Income Guarantee; the extent and levels of saving and borrowing; past and current needs that could have been met through the Social Fund; knowledge of, and attitudes to, the Social Fund; and the use made of the Social Fund by older people. It concludes by examining ways of increasing Social Fund take-up among older people.
The Social Fund has an important part to play in tackling pensioner poverty but, to date, take-up among older people is far lower than it is among other eligible groups. The report explores living standards among older people receiving Minimum Income Guarantee; the extent and levels of saving and borrowing; past and current needs that could have been met through the Social Fund; knowledge of, and attitudes to, the Social Fund; and the use made of the Social Fund by older people. It concludes by examining ways of increasing Social Fund take-up among older people.
Subject terms:
income, income support, older people, pensions, poverty, social fund, standard of living, access to services, government departments;
This summary report argues that people need incentives and encouragement to save for their retirement but also need to have greater confidence that the systems will deliver. Reforms are needed to ensure that our pension systems are based on the following principles:clarity; fairness, adequacy, security and flexibility. The report outlines what it considers modest but adequate levels of income for retired single people and couples.
This summary report argues that people need incentives and encouragement to save for their retirement but also need to have greater confidence that the systems will deliver. Reforms are needed to ensure that our pension systems are based on the following principles:clarity; fairness, adequacy, security and flexibility. The report outlines what it considers modest but adequate levels of income for retired single people and couples.
Subject terms:
income, life style, older people, pensions, standard of living, ageing, economics, financing, expenditure;
This report argues that people need incentives and encouragement to save for their retirement but also need to have greater confidence that the systems will deliver. Reforms are needed to ensure that our pension systems are based on the following principles:clarity; fairness, adequacy, security and flexibility. The report outlines what it considers modest but adequate levels of income for retired single people and couples.
This report argues that people need incentives and encouragement to save for their retirement but also need to have greater confidence that the systems will deliver. Reforms are needed to ensure that our pension systems are based on the following principles:clarity; fairness, adequacy, security and flexibility. The report outlines what it considers modest but adequate levels of income for retired single people and couples.
Subject terms:
income, life style, older people, pensions, standard of living, ageing, economics, financing, expenditure;
... It then discusses tax and social security arrangements between the UK and other countries, the affordability and quality of health care, and differences in the standard-of-living and climate. It identifies pension uprating as a key issue. For those who retire in the UK or to Europe, pensions are automatically uprated in line with the cost of living. However, many others who have contributed to their state pension for over 40 years will find that once they move abroad their pensions are frozen for the duration of their retirement. The report urges the government to upgrade all state pensions to respond to this inconsistency and lack of equality in pensions upgrading.
This report considers the conditions facing older migrants who may wish to ‘return’ to their country of birth for retirement. It primarily considers the experience of black and minority ethnic (BME) people and the financial considerations and hidden costs that these potential ‘return migrants’ face. The report discusses pensions-indexing and housing factors, such as the affordability of housing. It then discusses tax and social security arrangements between the UK and other countries, the affordability and quality of health care, and differences in the standard-of-living and climate. It identifies pension uprating as a key issue. For those who retire in the UK or to Europe, pensions are automatically uprated in line with the cost of living. However, many others who have contributed to their state pension for over 40 years will find that once they move abroad their pensions are frozen for the duration of their retirement. The report urges the government to upgrade all state pensions to respond to this inconsistency and lack of equality in pensions upgrading.
Subject terms:
housing, migrants, migration, older people, pensions, personal finance, retirement, standard of living, taxation, benefits, black and minority ethnic people, government policy;
This White paper sets out proposals for better information, simpler pensions, simplified tax treatment, better protection and more flexible retirement are designed to enable people to make their own choices for retirement. They build on the foundation of the State Pension.
This White paper sets out proposals for better information, simpler pensions, simplified tax treatment, better protection and more flexible retirement are designed to enable people to make their own choices for retirement. They build on the foundation of the State Pension.
Subject terms:
income, older people, pensions, policy formulation, public expenditure, retirement, standard of living, taxation, ageing, central government, financing, expenditure, government departments, government policy;
... the areas of jobs and pay; housing; pensions, and living standards. The findings include that young adults have experienced poor pay outcomes, in contrast to older generations and young adults are making no income progress and accumulating much less wealth. The report also highlights risk for older people, due increasing need for health and social care services. Recommendations for policy include
(Edited publisher abstract)
The final report of the Intergenerational Commission, which was convened by the Resolution Foundation to explore questions of intergenerational fairness in Britain. It provides an analysis of the intergenerational challenges the country faces and sets out a policy programme to tackle them. It draws on an examination of the experiences and prospects of different generations in Britain covering the areas of jobs and pay; housing; pensions, and living standards. The findings include that young adults have experienced poor pay outcomes, in contrast to older generations and young adults are making no income progress and accumulating much less wealth. The report also highlights risk for older people, due increasing need for health and social care services. Recommendations for policy include an increase in public funding for social care of more than £2 billion from reformed taxation of property, alongside property-based private contributions towards care costs; and the introduction of an ‘NHS levy’ via National Insurance on the earnings of those above State Pension age and limited National Insurance on occupational pension income.
(Edited publisher abstract)
Subject terms:
employment, housing, pensions, older people, young people, young adults, wages, standard of living, adults, social care, health care, NHS, welfare state, families, financing, unmet need, costs, policy;