Pensions, vol. 8, 2003, p.205-215
Considers if the principle of "the duty of good faith" could help trustees resist an employer's decision to terminate an occupational pension scheme. It also considers the possible response of trustees to a notice of termination, including a demand for increased contributions in the light of the Unisys New Zealand case.
Work and Pensions Committee
London: TSO, 2003 (House of Commons papers, session 2002/03; HC92)
Concludes that the UK pension system is basically sound and not in crisis. However the system is over-complicated, there is too much pensioner poverty and a lack of security of private pension funds. The Minimum Income Guarantee and the new Pension Credit are reducing pensioner poverty in the short term, but may not be sustainable long term. Agrees that one way to raise pensions is for people to work longer, and welcomes proposals to increase the flexibility with which private pensions can be drawn. Analyses two broad policy options for the state pensions system:
Discusses the advantages and disadvantages of these two options, including a number of financing options such as raising the state pension age.