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Tax reform and retirement saving incentives: take-up of stakeholder pensions in the UK
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posted on 2023-06-08, 15:06 authored by Richard Disney, Carl Emmerson, Matthew WakefieldIn April 2001, the UK government introduced Stakeholder Pensions – a new private pension arrangement. The reform also changed the structure of tax-relieved pension contribution ceilings, increasing their generosity for lower-earners. We examine the impact of these changes on private pension coverage using individual level data. We use a difference-in-differences strategy with an estimator that is modified to allow for dichotomous outcomes. Contrary to the conventional wisdom that the Stakeholder Pension reforms had little or no impact on saving behaviour, our results indicate that the change to the contribution ceilings affected private pension coverage rates among lower-earners, especially among women.
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Publication status
- Published
Journal
EconomicaISSN
00130427Publisher
Blackwell PublishingExternal DOI
Issue
306Volume
77Page range
213-233Department affiliated with
- Economics Publications
Full text available
- No
Peer reviewed?
- Yes
Legacy Posted Date
2013-06-10Usage metrics
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