Download BibTex file | 

Is it possible to design a pension system that can guarantee financial security to individuals, employers and to the state simultaneously? In the following paper, researchers from the ESRC Centre for the Microeconomic Analysis of Public Policy at the Institute for Fiscal Studies put forward evidence-based findings on the three key questions which underpin the design of a fair and efficient pension system:

1. Is the financial support offered to pensioners by the state in retirement sustainable in terms of the burden it places on the working population?
2. Are the mechanisms by which the private financial sector helps people save for retirement sustainable in their apportionment of risk between employers and employees?
3. Is the way in which the state and private systems interact sustainable in the sense that the combination promises people a reasonable degree of financial security without creating unduly powerful disincentives for them to work and save?

Download full version (PDF 408 KB)