What is the Pension Problem

This paper is a brief introduction into the current pension situation and the problems that the Country is likely to face in the future as a result of these problems. It identifies the sectors of society that are the most affected and explains why an increase in private pension saving is needed. It also investigates the income that individuals are likely to be paid by the state pension when they retire and questions whether it is a sufficient amount to meet their needs.

The Current Pension Rebate

The Current Pension Rebate is an incentive proposed to increase private pension saving and also provide an alternative way of controlling the economy and distributing wealth. The concept is simple as pension contributions receive tax relief up to a point it is possible for some of the money paid or intended to be paid into a pension to be paid back to the individual, which is then tax-free and therefore alters an individuals tax liability if they pay into a pension scheme. This paper examines the basic principle of this idea including some of the factors that make it difficult to introduce it and how to get around them.

Types of Pension

Types of pension schemes that are available, types of fund that are available and types of annuities that are available.

This paper provides a basic background to the different types of pension schemes that are available at the moment. It explains some of the pro’s and con’s of the different pension schemes and provides a suggestion of how they could be improved. It also provides a background to the funds that are available for investment explaining the pro’s and con’s of the different funds for the different types of investor. This is followed by an explanation of the different types of annuity that are available at the moment to provide a brief explanation of the Pension system and variations that it offers at the moment.

Changes in the working environment

This paper explores the changing working environment in the modern world and how it affects the current pension system. It examines the different ways that tax relief can be claimed both by the employee and the employer and the possible methods that could make the process simpler and more flexible. Finally the paper investigates the problems that having an inefficient pension system has on the other factors of the economy such as house prices and money supply.

The Pension Problem

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