The future of public pension provision in the UK: challenges and trade-offs
分析了英国公共养老金体系在人口老龄化下面临的挑战，指出提高退休年龄或限制养老金增长两种政策选项对不同收入群体的差异化影响，对研究养老金改革的经济学者有参考价值。
Abstract The UK state pension system faces significant challenges given the country’s ageing population, but at the same time it is crucial for retirement finances: state pensions make up on average almost half of income for recently retired households. Reforms coming into force in 2010 and 2016 have increased universality, and most future pensioners will receive a full (flat rate) state pension. Policy-makers seeking to limit the cost of the system have two obvious options: raising the state pension age or limiting increases in the value of the pension. The current indexation method known as the ‘triple lock’ increases the value of the state pension over time but to an uncertain degree and only in times of macroeconomic turmoil. Among other reasons, differences in life expectancy mean raising the state pension age disproportionately affects poorer people. This is in contrast to limiting indexation which affects those on higher incomes more.