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100 Years of State Pension: Learning from the Past

Published online by Cambridge University Press:  12 March 2012

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Extract

The President (Mr R. S. Bowie, F.F.A.): Tonight's topic is ‘100 years of state pension: — learning from the past’. I am reminded of the expression: why are the bankers so keen to find new ways of losing money when the old ways seem to have worked perfectly well!

The state pension has been going in a recognisable form for only 100 years and only for the last 60 as a universal pension; and only for the last 30 years in the form that we all might recognise today.

If the Actuarial Profession can bring value to something from the past, it is to bring a perspective and a context to it so that we can learn from it. In this way, the Profession can create an informed climate within which public debate on matters of public interest can take place. As you will all know, the Financial Reporting Council are pressing the Profession hard to give tangible evidence of its commitment to the public interest, and this book falls into that category, creating an informed background for debate on a matter of huge public interest.

Type
Sessional meetings: papers and abstracts of discussions
Information
British Actuarial Journal , Volume 15 , Issue 3 , September 2009 , pp. 483 - 501
Copyright
Copyright © Institute and Faculty of Actuaries 2009

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References

Salter, T.A., Bryans, A.A.S., Redman, C. & Hewitt, M. (2009). 100 years of state pension: learning from the past. Faculty of Actuaries and Institute of Actuaries, Oxford.Google Scholar