BIROn - Birkbeck Institutional Research Online

    Raising the pension age

    Mabbett, Deborah (2023) Raising the pension age. [Editorial/Introduction]

    [img] Text
    Raising the state pension age.pdf - Author's Accepted Manuscript
    Restricted to Repository staff only

    Download (156kB)
    [img]
    Preview
    Text
    51132a.pdf - Published Version of Record
    Available under License Creative Commons Attribution Non-commercial No Derivatives.

    Download (46kB) | Preview

    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

    Statistics

    Activity Overview
    6 month trend
    25Downloads
    6 month trend
    59Hits

    Additional statistics are available via IRStats2.

    Archive Staff Only (login required)

    Edit/View Item
    Edit/View Item