Financial Times, Aug. 3rd 2000, p. 17
Argues for a state pension based on a compulsory social insurance scheme. Contributions would be earnings - related, but pensions would be paid on a flat-rate basis. In this way the contributions off the higher paid would subsidise the pensions of the lower paid. The pension would be uprated in line with earnings.
Social Security Committee
London: TSO, 2000 (House of Commons papers, Session 1999/2000; HC 606)
Recommends an increase in the basic state pension sooner rather than later, and its uprating in line with earnings rather than prices. Acknowledges that the latter is only possible if people are willing to pay higher taxes and national insurance contributions. Proposes that extra help should be targeted on the oldest pensioners, who are also likely to be the poorest, and that the basic state pension for those over 80 should be raised to the same level as the Minimum Guaranteed Income. Also suggests that the possibility of compelling self-employed people to take out a second pension should be investigated.
Committee of Public Accounts
London: TSO, 2000 (House of Commons papers, Session 1999/2000; HC 401)
Draws three main conclusions: