Future of an Ageing Population
gs-16-10-future-of-an-ageing-population
gs-16-10-future-of-an-ageing-population
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Box 1.3: Pension l<strong>an</strong>dscape<br />
People within the UK are ageing not only within a ch<strong>an</strong>ging population<br />
structure, but also with a pension system which defines their access to<br />
late life income.<br />
Over the last 20 years, most developed countries have reformed their<br />
pension systems in the hope that they will continue to achieve their<br />
underlying objectives – to prevent poverty in old age <strong>an</strong>d to provide<br />
income security – at a time when life expect<strong>an</strong>cy is increasing <strong>an</strong>d the ratio<br />
<strong>of</strong> contributors to beneficiaries is shrinking. The UK government, more<br />
th<strong>an</strong> most Org<strong>an</strong>isation for Economic Cooperation <strong>an</strong>d Development<br />
(OECD) countries, has reformed pension provision 13 . There have been two<br />
recent pension commissions 14,15 <strong>an</strong>d a series <strong>of</strong> detailed reports from the<br />
Department for Work <strong>an</strong>d Pensions 16 . The Government has also recently<br />
appointed <strong>an</strong> independent reviewer <strong>of</strong> the SPA to consider how the SPA<br />
should be adjusted in the light <strong>of</strong> rising life expect<strong>an</strong>cy. 17<br />
P27
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