Briefing Notes

Briefing Note 43 - Maintaining consensus: the long-term goals for the UK pensions system and options for ongoing policy review

While there has been much debate in recent years about the details of different pensions policy proposals, there has been less debate about the long-term goals for the UK pensions system beyond reform, and the process for reviewing policy in the future.  

Pensions policy deals with long-term issues and the consequences of decisions made by today’s political decision makers will have ramifications for many years to come. Given this long-term nature, pensions policy often involves trade-offs and decisions between different generations, for example, between today’s workers and today’s pensioners. The nature of pensions creates a need for a long-term approach and continuity in the direction of pensions policy that can endure changes in Government and changes in political direction. But there is also a need for flexibility in the precise direction of policy, because the social and economic conditions that affect pensions policy will change over time.  

This Briefing Note seeks to stimulate debate on these issues. It summarises findings of a PPI research report and is informed by desk-based review of national and international case studies, a small scale survey of selected organisation with an interest in pensions policy and qualitative research conducted by the PPI with experts from across the pensions sector.

This research was sponsored by the Nuffield Foundation. PPI is grateful to The Nuffield Foundation for their support in producing this work.