Raising the pension age
Mabbett, Deborah (2023) Raising the pension age. [Editorial/Introduction]
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Abstract
In 2014 the government legislated for periodic expert reviews of the SPA which would implement the rule that individuals spend on average around one third of their adult lives in receipt of the state pension. Framing the pension age as a technical problem is well understood as a way of trying to remove the policy from political contestation. But it is also a way of defining, or redefining, what the pension is for. The link to life expectancy communicates that state pensions insure against the risk of living a long life and running out of savings (longevity risk). But the old age pension has always had another purpose, which is to insure against the risk of forced retirement. Linking the pension age to life expectancy has the effect of securing insurance against longevity risk while curtailing insurance against forced retirement risk.
Metadata
| Item Type: | Editorial/Introduction |
|---|---|
| School: | Birkbeck Faculties and Schools > Faculty of Humanities and Social Sciences > School of Social Sciences |
| Research Centres and Institutes: | Birkbeck Centre for British Political Life |
| Depositing User: | Deborah Mabbett |
| Date Deposited: | 28 Jun 2024 05:05 |
| Last Modified: | 29 Jun 2024 09:25 |
| URI: | https://eprints.bbk.ac.uk/id/eprint/51132 |
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