Two decades of pension reform in the UK: What are the implications for occupational pension schemes? Available to Purchase

The UK is one of the few countries in Europe that is not facing a serious pensions crisis. The reasons for this are straightforward: state pensions are among the lowest in Europe, the UK has a long‐standing funded private pension sector, its population is ageing less rapidly than elsewhere in Europe and its governments have, since the beginning of the 1980s, taken measures to prevent a pension crisis developing. This article reviews the policies that have been implemented over the last two decades. It describes and analyses the defects in the Thatcher‐Major governments’ reforms that brought us to the current system, examines and assesses the reforms of the Blair government, and then identifies the problems that remain unresolved and how they might be addressed. Concludes with an examination of the implications of these reforms for the future of occupational pension schemes.