Littérature scientifique sur le sujet « Pension trusts – great britain »

Defined benefit pension plans have played an important role in pension sectors of developed countries in North America, Great Britain and Western Europe for several decades. However, with the beginning of the 21st century, altered demographic trends and global financial market fluctuations have significantly disrupted the financial position of defined benefit pension plans. The aim of this paper is to examine the long-term movement of indicators of the importance of defined benefit pension plans in the pension systems of four developed countries: the United States, Canada, the Netherlands and Great Britain. In these countries defined benefit pension plans still have an important role. The analysis shows that the number of occupational defined benefit pension plans in private sector in the observed countries is declining, along with the continuously decreasing number of participants and increasing problems in achieving a sustainable financial position in the long run.

The Great Recession of 2008–09 caused an array of fiscal challenges for state and local governments in the US, including the underfunding of pensions and retiree health benefits (Joyce, 2013). It is estimated that in 2009 the 61 largest cities in the US had unfunded pension and retiree health benefits liabilities equal to $217 billion (The Pew Charitable Trusts, 2013). Given these constraints, we are primarily interested in understanding the effects of institutional factors, more specifically the role of tax and expenditure limitations (TELs), on pension and other post-employment benefit (OPEB) funding. Recent studies have examined the effects of pension liabilities on bond ratings (Martell, Kioko and Moldogaziez, 2013), the effects of state budget stabilization funds on pension contributions (St. Clair, 2013) and political and institutional effects on pension plan management (Gehl, Willoughby and Bell 2013); (Chen, Ebdon, Kriz and Laforge, 2013). What is less understood is the role played by institutional structures such as form of government and state-imposed tax and expenditure limitations on pension or OPEB funding before, during and after the recession. Our findings suggest that municipal TELs are statistically associated with OPEB funding, meaning that municipalities with stricter TELs had lower OPEB funding ratios. Just as importantly, we find that during this period, municipalities with mayor-council forms confronted with stricter TELs had better funded pensions and OPEBs than in cities with similar TELs but with manager-council forms of government.

Quasi-compulsory participation in occupational pension schemes on example of Great Britain: opportunities and threatsThe purpose of this article is to identify the opportunities and threats associated with compulsory or quasi-compulsory participation in occupational pension schemes based on the literature review of the subject and the comparative studies of the effects of introducing such solutions in selected countries UK, Ireland. On this basis, conclusions and recommendations will be made regarding the proposed introduction of similar solutions in the Polish pension system.

The main reason for the reform of the Czech pension system is the unfavourable demographic situation. The pensions in the Czech Republic are still financed through pure Pay As You Go system which is outdated. Firstly there are described the basic definitions and functions of the pension system. As well the circumstances leading to the origin of the alternative pension models are introduced. The next parts present the today trends in European pension systems and include the characteristics of the pension systems in Germany, Great Britain, Sweden and the Czech Republic. The most important, fourth part of the paper evaluates the particular aspects of chosen countries in connection with their possible implementation into the Czech pension system.

The article considers the process of forming conceptual foundations of pension legislation in Russia, France, and Great Britain. The scientists of 17-18th centuries substantiated the right to life and human dignity as the most important human rights. Later, in 19-20th centuries, the right to a dignified existence, the right to assistance from the state in case of disability were formulated. The need for the livelihood of the elderly was recognized by most authors, however, there were serious discrepancies regarding the methods for provision and sources of financing payments. The article considers the pension laws adopted in Great Britain, France, and Russia in the first half of the 20th century that reflected the above concepts anyway. The French pension legislation has embodied the insurance model of pension security and was strongly influenced by Bismarck legislation, while the British one reflected the legislator’s desire to abandon the extremes of the ideology of individualism and ‘self-help’ through the introduction of state budget pensions. In Russia, the origin of compulsory social insurance took place almost simultaneously with Western European countries; however, this process was broken by the revolutionary events of 1917. As a result, a state budgetary pension system was created in Soviet Russia. The author comes to the conclusion about the mutual influence of various models of pension protection, legalized in the first half of the 20th century in the countries under consideration, as well as the special role of social solidarity concepts and the generational contract for the formation of these models.

The article substantiates the nature of the national models of the pension system and its structure in accordance with the concept of the Organization for Economic Co-operation and Development (OECD). The basis of the national models of pension system are two well-known models of social security: Bismarck and Beveridge Social Insurance Systems. Thus, authors prepared the comparison of this models. The features of pension system in the countries of Europe (Germany, Great Britain, Sweden, Poland), the United States and Chile are analysed. The analysis of the national models of the pension system in Asian countries identifies three institutional patterns: the statist pension system (Taiwan and China), the dualist pension system (Japan and Korea) and individualist pension system (Hong Kong and Singapore). Based on trends of development of pension provision in foreign countries, authors determine the main tasks and ways to improve the domestic system, namely, introduction mandatory funded pension system and reforming the voluntary private pensions insurance.

Abstract At the turn of the millennium, Germany and the United Kingdom experienced the most severe crises of their pension systems since the Second World War. In both cases, politicians reacted with extensive reforms. The political debates in each country revolved around the notion that demographic ageing was at the root of the crises. Hence, the call for greater intergenerational equity became the key justification of fundamental pension-system reform. But a comparative historical analysis reveals that it is a vast oversimplification to blame the pension crises entirely on demographic ageing. In fact, a combination of other factors—which varied widely between the UK and Germany—far overshadowed the ‘demographic time-bomb’ as the driving force behind the crises. A prime factor in the UK was the declining value of the Basic State Pension and the growing importance of means-tested benefits, along with the decline of company pension schemes. By contrast, the problems facing the pension system in Germany primarily arose from rising unemployment, the systematic early retirement of millions of eastern Germans and the high costs of German unity, which were largely borne by the social-security system. Furthermore, in the debate on Germany’s ability to remain a thriving centre for business and industry, rising pension contributions were widely held responsible for declining competitiveness. In both countries, politicians seized upon the explanatory model of demographic ageing because it made sweeping reforms of the pension system appear the consequence of a quasi-natural process, and created a welcome opportunity to divert attention from socio-political blunders.

In the continuous discussion of how and how much Lloyd George was influenced by Germany in formulating Old Age Pensions and National Insurance, attention seems to have been almost wholly diverted from the degree to which the Danish example was discussed, recommended and clearly present in the consciousness of those who made the British Old Age Pension Act of 1908. There is no discussion of the issue in the standard work on the subject, Bentley B. Gilbert's The Evolution of National Insurance in Great Britain, (London, 1966) nor even any mention of “Denmark” in the index. The subject is likewise missing from Francis H. Stead's How Old Age Pensions Came to Be, (London [? 1910]), which Gilbert calls “indispensible.” Patricia Mary Williams barely mentions the subject in her detailed dissertation, “The Development of Old Age Pension Policy in Great Britain, 1878-1925” (University of London, 1970), and does not even do that much in the book she wrote under the name Pat Thane, Foundations of the Welfare State (Essex, 1982) nor in the chapter on old age pensions in the book she edited, Origins of British Social Policy (London, 1978). Hugh Heclo in Modern Social Politics in Britain and Sweden (New Haven, 1974) mentions (p. 167) that the proposals of the commission in 1899 “resembled” the Danish system, but Heclo does not say how or why, and then never mentions the subject again. John Grigg, in his biography of Lloyd George is concerned with the man more than the issue, and does not analyze the source of the ideas behind the old age pension bill of 1908 in his Lloyd George, The People's Champion (Berkeley, 1978).

Abstract The Riester pension was well thought out, but badly done. It is primarily the agents and insurance companies who benefit from Riester, while consumers hardly benefit at all – and if they do, it is only because of the generous state subsidy. The reform proposals to date do not eliminate the deficits, but are rather a restructuring plan for the supply side. However, private pension contracts should also pay off without subsidies. State-organised standard products in Sweden or Great Britain show how such efficiency can be achieved. The German “Verbraucherzentrale Bundesverband” has made a suggestion in this respect, the “Extrarente”: a public body pools consumer demand and can thus cost-effectively organise their capital investment on a share scheme basis.

The purpose of this study was to review the provision of public and private retirement funding in both South Africa and the United Kingdom and the role of taxation in encouraging greater private provision for retirement. The study described the basis of taxation and determination of ‘taxable income’ in each jurisdiction, before addressing the relationship between taxation and retirement funding in each jurisdiction respectively. Both jurisdictions have introduced significant reforms of their systems of retirement funding and these reforms were accordingly addressed in the present research. The study compared the two jurisdictions based on the above mentioned areas to determine similarities or differences. The study concluded with recommendations, these being that South Africa should assess the feasibility of providing greater State provided retirement funding by possibly including a mandatory contribution, such as that used by the UK for its single-tier flat rate New State Pension. A further recommendation was that South Africa should encourage greater provision of private retirement funding by considering even greater tax deductions for contributions.

The work aims to explain the character and success/failure of pension reforms with help of political explanatory variables. The constitution of given political system is considered, as well as the actual political alignment and the role of electorate, in explaining the processes underlying the pension scheme reforms - a major topic of today's aging societies. The case study approach is used, utilising the recent experience of Great Britain and Sweden in reforming the pensions. The findings are compared with the results and conclusions suggested by a dynamic economic model of pension scheme switch, demonstrating eventually what factors and conditions are favorable for pension reforms, both from the political and the economic point of view.

The theme of my diploma thesis is a comparison of the Czech pension system with pension systems of chosen European Union countries. I focus also on planned changes and a further development in the Czech pension system and in chosen states. For the comparison I chose four states ? the Slovak Republic, Poland, Germany and the Great Britain. I chose the Slovak Republic, Poland and Germany because these are states with the pension systems similar to the Czech Republic. On the contrary I selected the Great Britain because its system is very different. The aim of this thesis was to compare pension systems in chosen European Union countries: the Czech Republic, the Slovak Republic, Poland, Germany and the Great Britain and to map their further development. The thesis was processed theoretically and it is focused only on the pension that secures a man in the retirement age. The introduction outlines a demographic development, which is one of the factors why there are changes in individual systems. Furthermore, in this thesis there are characterized pension systems of the chosen states. There are mentioned conditions for a participation in the pension schemes, types of retirement pensions and conditions for an entitlement to a pension payment. To outline the development of individual systems, I tried, in the second part of the thesis, to briefly describe pension reforms and current changes that occurred. In all countries a necessary condition for an entitlement to pension payments is to pay a social security insurance that is why I compared amounts of the insurances in individual states, which I further took into account in a discussion. I always compared the Czech Republic with the other states in the discussion. I focused on the comparison of the retirement age, years of the insurance required for the entitlement for the retirement pension, current changes and especially an opt-out system in the Czech Republic which is planned for the next year. I tried to compare the conditions that were during the implementation of this system established in other states and which are planned in this country. I believe that the thesis can be used by a professional and lay public for a better orientation in the legislation of pension systems of the chosen states.

AbstractGender equality is an increasingly topical issue, but it has deep historical roots. The principle of gender equality found its legitimacy, even if limited to salary, in the 1957 Treaty of Rome, establishing the European Economic Community (EEC). This treaty, in Article 119, sanctioned the principle of equal pay between male and female workers. The EEC continued to protect women’s rights in the 1970s through equal opportunity policies. These policies referred, first, to the principle of equal treatment between men and women regarding education, access to work, professional promotion, and working conditions (Directive 75/117/EEC); second, to the principle of equal pay for male and female workers (Directive 76/207/EEC); and finally, enshrined the principle of equal treatment between men and women in matters of social security (Directive 79/7/EEC). Since the 1980s, several positive action programmes have been developed to support the role of women in European society. Between 1982 and 2000, four multiyear action programmes were implemented for equal opportunities. The first action programme (1982–1985) called on the Member States, through recommendations and resolutions by the Commission, to disseminate greater knowledge of the types of careers available to women, encourage the presence of women in decision-making areas, and take measures to reconcile family and working life. The second action programme (1986–1990) proposed interventions related to the employment of women in activities related to new technologies and interventions in favour of the equal distribution of professional, family, and social responsibilities (Sarcina, 2010). The third action programme (1991–1995) provided an improvement in the condition of women in society by raising public awareness of gender equality, the image of women in mass media, and the participation of women in the decision-making process at all levels in all areas of society. The fourth action programme (1996–2000) strengthened the existing regulatory framework and focused on the principle of gender mainstreaming, a strategy that involves bringing the gender dimension into all community policies, which requires all actors in the political process to adopt a gender perspective. The strategy of gender mainstreaming has several benefits: it places women and men at the heart of policies, involves both sexes in the policymaking process, leads to better governance, makes gender equality issues visible in mainstream society, and, finally, considers the diversity among women and men. Among the relevant interventions of the 1990s, it is necessary to recall the Treaty of Maastricht (1992) which guaranteed the protection of women in the Agreement on Social Policy signed by all Member States (except for Great Britain), and the Treaty of Amsterdam (1997), which formally recognised gender mainstreaming. The Treaty of Amsterdam includes gender equality among the objectives of the European Union (Article 2) and equal opportunity policies among the activities of the European Commission (Article 3). Article 13 introduces the principle of non-discrimination based on gender, race, ethnicity, religion, or handicaps. Finally, Article 141 amends Article 119 of the EEC on equal treatment between men and women in the workplace. The Charter of Fundamental Rights of the Nice Union of 2000 reaffirms the prohibition of ‘any discrimination based on any ground such as sex’ (Art. 21.1). The Charter of Fundamental Rights of the European Union also recognises, in Article 23, the principle of equality between women and men in all areas, including employment, work, and pay. Another important intervention of the 2000s is the Lisbon strategy, also known as the Lisbon Agenda or Lisbon Process. It is a reform programme approved in Lisbon by the heads of state and governments of the member countries of the EU. The goal of the Lisbon strategy was to make the EU the most competitive and dynamic knowledge-based economy by 2010. To achieve this goal, the strategy defines fields in which action is needed, including equal opportunities for female work. Another treaty that must be mentioned is that of Lisbon in 2009, thanks to which previous treaties, specifically the Treaty of Maastricht and the Treaty of Rome, were amended and brought together in a single document: the Treaty on European Union (TEU) and the Treaty on the Functioning of the European Union (TFEU). Thanks to the Lisbon Treaty, the Charter of Fundamental Rights has assumed a legally binding character (Article 6, paragraph 1 of the TEU) both for European institutions and for Member States when implementing EU law. The Treaty of Lisbon affirms the principle of equality between men and women several times in the text and places it among the values and objectives of the union (Articles 2 and 3 of the TEU). Furthermore, the Treaty, in Art. 8 of the TFEU, states that the Union’s actions are aimed at eliminating inequalities, as well as promoting equality between men and women, while Article 10 of the TFEU provides that the Union aims to ‘combat discrimination based on sex, racial or ethnic origin, religion or belief, disability, age, or sexual orientation’. Concerning the principle of gender equality in the workplace, the Treaty, in Article 153 of the TFEU, asserts that the Union pursues the objective of equality between men and women regarding labour market opportunities and treatment at work. On the other hand, Article 157 of the TFEU confirms the principle of equal pay for male and female workers ‘for equal work or work of equal value’. On these issues, through ordinary procedures, the European Parliament and the Council may adopt appropriate measures aimed at defending the principle of equal opportunities and equal treatment for men and women. The Lisbon Treaty also includes provisions relating to the fight against trafficking in human beings, particularly women and children (Article 79 of the TFEU), the problem of domestic violence against women (Article 8 of the TFEU), and the right to paid maternity leave (Article 33). Among the important documents concerning gender equality is the Roadmap (2006–2010). In 2006, the European Commission proposed the Roadmap for equality between women and men, in addition to the priorities on the agenda, the objectives, and tools necessary to achieve full gender equality. The Roadmap defines six priority areas, each of which is associated with a set of objectives and actions that makes it easier to achieve them. The priorities include equal economic independence for women and men, reconciliation of private and professional life, equal representation in the decision-making process, eradication of all forms of gender-based violence, elimination of stereotypes related to gender, and promotion of gender equality in external and development policies. The Commission took charge of the commitments included in the Roadmap, which were indirectly implemented by the Member States through the principle of subsidiarity and the competencies provided for in the Treaties (Gottardi, 2013). The 2006–2010 strategy of the European Commission is based on a dual approach: on the one hand, the integration of the gender dimension in all community policies and actions (gender mainstreaming), and on the other, the implementation of specific measures in favour of women aimed at eliminating inequalities. In 2006, the European Council approved the European Pact for Gender Equality which originated from the Roadmap. The European Pact for Gender Equality identified three macro areas of intervention: measures to close gender gaps and combat gender stereotypes in the labour market, measures to promote a better work–life balance for both women and men, and measures to strengthen governance through the integration of the gender perspective into all policies. In 2006, Directive 2006/54/EC of the European Parliament and Council regulated equal opportunities and equal treatment between male and female workers. Specifically, the Directive aims to implement the principle of equal treatment related to access to employment, professional training, and promotion; working conditions, including pay; and occupational social security approaches. On 21 September 2010, the European Commission adopted a new strategy to ensure equality between women and men (2010–2015). This new strategy is based on the experience of Roadmap (2006–2010) and resumes the priority areas identified by the Women’s Charter: equal economic independence, equal pay, equality in decision-making, the eradication of all forms of violence against women, and the promotion of gender equality and women’s empowerment beyond the union. The 2010–2015 Strategic Plan aims to improve the position of women in the labour market, but also in society, both within the EU and beyond its borders. The new strategy affirms the principle that gender equality is essential to supporting the economic growth and sustainable development of each country. In 2010, the validity of the Lisbon Strategy ended, the objectives of which were only partially achieved due to the economic crisis. To overcome this crisis, the Commission proposed a new strategy called Europe 2020, in March 2010. The main aim of this strategy is to ensure that the EU’s economic recovery is accompanied by a series of reforms that will increase growth and job creation by 2020. Specifically, Europe’s 2020 strategy must support smart, sustainable, and inclusive growth. To this end, the EU has established five goals to be achieved by 2020 and has articulated the different types of growth (smart, sustainable, and inclusive) in seven flagship initiatives. Among the latter, the initiative ‘an agenda for new skills and jobs’, in the context of inclusive growth, is the one most closely linked to gender policies and equal opportunities; in fact, it substantially aims to increase employment rates for women, young, and elderly people. The strategic plan for 2010–2015 was followed by a strategic commitment in favour of gender equality 2016–2019, which again emphasises the five priority areas defined by the previous plan. Strategic commitment, which contributes to the European Pact for Gender Equality (2011–2020), identifies the key actions necessary to achieve objectives for each priority area. In March 2020, the Commission presented a new strategic plan for equality between women and men for 2020–2025. This strategy defines a series of political objectives and key actions aimed at achieving a ‘union of equality’ by 2025. The main objectives are to put an end to gender-based violence and combat sexist stereotypes, ensure equal opportunities in the labour market and equal participation in all sectors of the economy and political life, solve the problem of the pay and pension gap, and achieve gender equality in decision-making and politics. From the summary of the regulatory framework presented, for the European Economic Community first, then for the European Community, and finally for the European Union, gender equality has always been a fundamental value. Interest in the issues of the condition of women and equal opportunities has grown over time and during the process of European integration, moving from a perspective aimed at improving the working conditions of women to a new dimension to improve the life of the woman as a person, trying to protect her not only professionally but also socially, and in general in all those areas in which gender inequality may occur. The approach is extensive and based on legislation, the integration of the gender dimension into all policies, and specific measures in favour of women. From the non-exhaustive list of the various legislative interventions, it is possible to note a continuous repetition of the same thematic priorities which highlights, on the one hand, the poor results achieved by the implementation of the policies, but, on the other hand, the Commission’s willingness to pursue the path initially taken. Among the achievements in the field of gender equality obtained by the EU, there is certainly an increase in the number of women in the labour market and the acquisition of better education and training. Despite progress, gender inequalities have persisted. Even though women surpass men in terms of educational attainment, gender gaps still exist in employment, entrepreneurship, and public life (OECD, 2017). For example, in the labour market, women continue to be overrepresented in the lowest-paid sectors and underrepresented in top positions (according to the data released in the main companies of the European Union, women represent only 8% of CEOs).

Abstract Banks rarely appear as structural elements in studies of industrial history. If they do it is as suppliers of short-term working capital or seekers after the profits of capital export (for example, in France and Great Britain), or as the creators of cartels or trusts to reduce competition (Germany, perhaps the United States). This situation results from the difficulty of finding precise documentation. Unlike most economic properties, bank assets are volatile and variable.