Labour and the Future of Pensions: A Reply to UK Pensions
Minister John Denham

David Blake and J. Michael Orszag


In this reply to John Denham’s (1998) article, we explain how the Ideal
Pension Scheme, a well-funded, low-cost defined contribution scheme,
can deliver the stakeholder pension (the Labour government’s proposed
new second pension for everyone without either an occupational or a
personal pension). We also identify the inherent weaknesses associated
with the unfunded state scheme, and with both occupational and
personal pensions.

ISSN 1367-580x.

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