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Pension Schemes and Pension Funds in the United Kingdom
Second Edition
David Blake
754 pages
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Figures and tables
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234x156mm
978-0-19-924353-2
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Hardback
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03 April 2003
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This item is printed to order. Items which are printed to order are normally despatched and charged within 5-10 days.
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- A complete and comprehensive analysis of the UK pensions system in a single volume
- Fully updated edition to take into account radical changes of recent years (e.g. 1995 Pensions Act; Welfare Reform and Pensions Act 1999; Trustee Act 2000; Myners, Pickering and Sandler Reports, etc.)
- Coverage of both pension schemes and pension funds as well as their historical development
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.
Readership: Academics, students, pension practitioners, pension fund managers, policy advisers, and civil servants.
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David Blake, Professor of Financial Economics and Director of the Pensions Institute, Birkbeck College, University of London
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Review(s) from previous edition
"A comprehensive history of the origins and development of British pensions both by the state and the private sector. - Financial Times
"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
"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
"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
"Blake's book ... is a very substantial achievement." - Economica
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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
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The specification in this catalogue, including without limitation price, format, extent, number of illustrations, and month of publication, was as accurate as possible at the time the catalogue was compiled. Occasionally, due to the nature of some contractual restrictions, we are unable to ship a specific product to a particular territory. Jacket images are provisional and liable to change before publication.
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