We show that older male pensioners have substantially lower incomes than younger pensioners. There are a number of possible reasons for this including under-indexation of private pensions and the running down of income-producing assets. In fact we find that cohort differences more than account...

The paper examines how individuals respond to complex decision-making environments – in particular, whether up-front financial incentives are an effective policy lever to change behaviour. The paper argues that incentives differ in their transparency and in their complexity; individuals...

We examine ill-health retirement of police officers in England and Wales between 2002-3 and 2009-10. Differences in ill-health retirement rates across forces are statistically related to area-specific stresses of policing and force-specific differences in human resources policies. Reforms to...

<p>We measure accruals in defined benefit (DB) pension plans for public and private sector workers in Britain, using typical differences in scheme rules and sector-specific lifetime age-earnings profiles by sex and educational group. We show not just that coverage by DB pension plans is greater in...</p>

<p>Faced with ageing populations, OECD governments are seeking policies to increase individual retirement saving. In April 2001, the UK government introduced Stakeholder Pensions - a low cost retirement saving vehicle. The reform also changed the structure of tax-relieved contribution ceilings,...</p>

<p><p>As private sector employers have moved away from providing final salary defined benefit (DB) pensions to their employees, attention has increasingly focused on the public sector's continued provision of such pensions and the value of these pension promises to public sector employees. The...</p></p>

The paper examines social security (public pension) reforms in which the programme is partially shifted from a public unfunded basis to a private, prefunded, basis. It focuses on reforms where individuals have a choice in switching from public funded to private unfunded programmes (as in the...

We examine the role of ill-health in retirement decisions in Britain, using the first eight waves of the British Household Panel Survey (1991-98). As self-reported health status is likely to be endogenous to the retirement decision, we instrument self-reported health by a constructed Ѩealth...

This paper analyses retirement expectations and outcomes using the two waves of the UK Retirement Survey, undertaken in 1988-89 and 1994. We argue that responses to questions on expectations are not straightforward to interpret where individuals are asked to report point expectations. As in the...