Towards a New Pensions Settlement
This volume presents the recent
experiences of pension reform in seven countries: Australia, Canada,
Germany, Netherlands, Poland, Sweden and the United Kingdom. Faced with
common problems of ageing societies and constraints on taxation levels,
all are increasingly passing responsibility for saving for retirement to
citizens. However, there is enormous variety between countries in the
degree to which the state intervenes to mitigate the risks which the
individual can face in saving for a pension.
What conclusions are reached with regards to the future of the UK
system? Gregg McClymont and Andy Tarrant warn that the government is over reliant
on the hope that ‘market forces’ will satisfactorily resolve any issues
of market failure. They argue that regulatory change in the last
parliament appeared to be “a piecemeal reaction to political pressure”.
While the Department of Work and Pensions and the Pensions Regulator
both appear to accept the necessity of quality requirements to underpin
the defined contribution system, it remains to be seen whether they have
a strategic vision to introduce adequate regulation.
About the editors
Gregg McClymont is head of retirement savings at Aberdeen Asset Management. Gregg was previously an MP and shadow pensions minister in the last parliament. Before entering the House of Commons, Gregg was a tutorial fellow of St Hugh's College, Oxford. He is a visiting fellow at Nuffield College, Oxford.
Andy Tarrant served as researcher to Labour's shadow pension minister, Gregg McClymont, in the 2010-15 parliament. He qualified as a solicitor at Herbert Smith and worked on regulatory issues for the UK telecoms regulation, British Telecommunications PLC and the European Competitive Telecommunications Association. His academic work focuses on political economy and regulatory design.
The book will be formally launched at an event hosted by Aberdeen Asset Management
Towards a New Pensions Settlement: The International Experience is now available from Rowman & Littlefield International
This book is published by Policy Network and Rowman & Littlefield International