Overview

Never has there been so much media interest in pensions as there is currently. Never has the pensions world changed so rapidly as it has over the last few years; we have seen the introduction of a new state supplementary pension scheme, new stakeholder pensions, and a flood of companies closing their final salary schemes and replacing them with defined contribution schemes. Never have there been so many complaints about our pension system; about the state pension falling behind earnings, about the misselling of personal pensions, about the perceived poor value of annuities, and about high charges and poor investment performance. This new edition of Pension Schemes and Pension Funds in the United Kingdom provides the latest information on all the key state and private pension schemes operating in the UK, including: the basic state pension, minimum income guarantee and pension credit; the state second pension; company pension schemes; and personal and stakeholder pension schemes. It does this within the context of the long historical development of the UK pensions system since medieval times. It also examines government pensions policy over the last twenty years, in particular the reduction in state pensions and the transfer of the burden of pension provision to the funded private sector. It also examines future trends and future concerns, such as increasing longevity and the adequacy of savings for retirement when people are young and in work. As most pension schemes are funded, the author also examines the latest issues in pension funding, such as the new accounting standard FRS17, active and passive fund management, investment risk budgeting and management, global investment performance standards, short-termism and the Myners review of institutional investment. The book concludes with a proposal for the Ideal Pension Scheme.

Full Product Details

Author:   David Blake (, Professor of Financial Economics and Director of the Pensions Institute, Birkbeck College, University of London)
Publisher:   Oxford University Press
Imprint:   Oxford University Press
Edition:   2nd Revised edition
Dimensions:   Width: 16.40cm , Height: 4.40cm , Length: 24.20cm
Weight:   1.260kg
ISBN:  

9780199243532

ISBN 10:   0199243530
Pages:   754
Publication Date:   03 April 2003
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   To order  
Stock availability from the supplier is unknown. We will order it for you and ship this item to you once it is received by us.

Table of Contents

Part I: The Historical Development of Pensions and Pension Schemes in the United Kingdom 1: The Development of State Pensions 2: The Development of Occupational, Personal, and Stakeholder Pension Schemes 3: The Role of the State in the Development of Pensions and Pension Schemes Part II: Pensions and Pension Schemes in the United Kingdom 4: The Basic State Pension Scheme, the Minimum Income Guarantee, and the Pension Credit 5: The State Second Pension Scheme and its Predecessors 6: Occupational Pension Schemes 7: Personal and Stakeholder Pension Schemes 8: Self-Employed, Partners', Executives', and Directors' Pension Schemes 9: Pension Choices and Retirement Decisions 10: Pensions and Public Policy Part III: Pension Funds in the United Kingdom 11: Pension Funding in the United Kingdom 12: Pension-Fund Investments 13: Pension-Fund Management 14: Pension-Fund Investment Performance 15: The Consequences of Pension Funds for Capital Markets Part IV: Postscript 16: The Ideal Pension Scheme Appendix: Pensions-Related Organizations Glossary

Reviews

David Blake sets a new standard for the notion of in depth analysis with his encyclopedic description of pension schemes and funds in the United Kingdom . . . This book is an indispensble resource for anyone who is serious about understanding pensions . . . I recommend this book for three reasons. It offers a comprehensive and dispassionate discussion of the relevant policy issues pertaining to the provision of retirement income. It contains a concise yet surprisingly thorough description of pension investment concepts and practices, including unusually accessible review of key quantitative tools. He looks into the future and offers a provocative list of the attributes of the ideal pension scheme.

Blake's book ... is a very substantial achievement. * Economica * David Blake's book fills the need for an up-to-date comprehensive academic reference on British pensions ... the prose is concise, and specific information is easy to find ... It is full of gems ... The final product combines careful research with clear analytical insights, and a proposal as to how to reform the British pension system. * Magazine of the Birkbeck Society * David Blake sets a new standard for the notion of in depth analysis with his encyclopedic description of pension schemes and funds in the United Kingdom ... This book is an indispensble resource for anyone who is serious about understanding pensions ... I recommend this book for three reasons. It offers a comprehensive and dispassionate discussion of the relevant policy issues pertaining to the provision of retirement income. It contains a concise yet surprisingly thorough description of pension investment concepts and practices, including an unusually accessible review of key quantitative tools. He looks into the future and offers a provocative list of the attributes of the ideal pension scheme. * Journal of Finance * There is sufficient detail for the reader to obtain a broad understanding of the principles of a complicated subject ... a well-written book that will be a useful reference for anybody with an interest in pension provision in the UK. * Times Higher Education Supplement * Review from previous edition A comprehensive history of the origins and development of British pensions both by the state and the private sector. * Financial Times *

Author Information

David Blake is Professor of Financial Economics at Birkbeck College, University of London, and Chairman of Square Mile Consultants, a training and research consultancy. He is also a Senior Research Associate, Financial Markets Group, London School of Economics; Senior Consultant, UBS Pensions Research Centre, London School of Economics; and Research Associate, Centre for Risk & Insurance Studies, University of Nottingham Business School.

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