Public pensions in the medium term: Projected expenditure, and options for change

Abstract

Trends in public pension costs in the UK are examined. Retrenchment of pension benefits has forestalled any upsurge in financing problems for the forseeable future. However, this retrenchment has been at the expense of inconsistencies in the uprating procedure and an expensive subsidy to private provision. The pension policies of the major political parties are also crtically appraised.