UCL Discovery
UCL home » Library Services » Electronic resources » UCL Discovery

State pensions and the well-being of the elderly in the UK

Banks, J; Blundell, R; Emmerson, C; Oldfield, Z; (2006) State pensions and the well-being of the elderly in the UK. The Institute for Fiscal Studies, UCL (University College London), The Institute for Fiscal Studies Green open access

[img]
Preview
PDF
2662.pdf

Download (490kB)

Abstract

This paper presents the trends seen over the last quarter of the 20thCentury in various indicators of the well-being of the elderlyalongside those seen for the young. Specifically we look at measuresof both the level and distribution of income and expenditure, andself-reported measures of life satisfaction and health. We thenexploit the substantial reforms to the UK pension system over thisperiod to examine the impact of reforms to state pensions on theseoutcomes. We find that increases in the generosity of state pensionshave led to increased incomes of the elderly and reductions inmeasures of both relative and absolute income poverty. We also findthat increased state pensions have led to increased expenditure bythe elderly. It is perhaps not surprising that in the UK the reformsto the generosity of state pensions have affected outcomes amongthe elderly (instead of being fully offset by individuals when theywere younger) given that often very little (pre-retirement) notice wasgiven, and that some of the reforms were of a substantial magnitude. This paper presents the trends seen over the last quarter of the 20thCentury in various indicators of the well-being of the elderlyalongside those seen for the young. Specifically we look at measuresof both the level and distribution of income and expenditure, andself-reported measures of life satisfaction and health. We thenexploit the substantial reforms to the UK pension system over thisperiod to examine the impact of reforms to state pensions on theseoutcomes. We find that increases in the generosity of state pensionshave led to increased incomes of the elderly and reductions inmeasures of both relative and absolute income poverty. We also findthat increased state pensions have led to increased expenditure bythe elderly. It is perhaps not surprising that in the UK the reformsto the generosity of state pensions have affected outcomes amongthe elderly (instead of being fully offset by individuals when theywere younger) given that often very little (pre-retirement) notice wasgiven, and that some of the reforms were of a substantial magnitude.

Type: Report
Title: State pensions and the well-being of the elderly in the UK
Open access status: An open access version is available from UCL Discovery
Additional information: Imported via OAI, 7:29:01 3rd Mar 2007; Imported via OAI, 7:29:00 14th Apr 2007
UCL classification: UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of SandHS > Dept of Economics
URI: https://discovery.ucl.ac.uk/id/eprint/2662
Downloads since deposit
671Downloads
Download activity - last month
Download activity - last 12 months
Downloads by country - last 12 months

Archive Staff Only

View Item View Item