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Welfare Markets and Personal Risk Management in England and Scotland

Welfare Markets and Personal Risk Management in England and Scotland
Welfare Markets and Personal Risk Management in England and Scotland
The project adopted a broad approach, employing quantitative as well as qualitative methods. It covered both public and private forms of risk protection, and it analysed attitudes as well as actual behavior. First, we reviewed Britain's current 'mixed economy of welfare' in the aforementioned five key areas. We mapped the social programmes, occupational schemes and private options that have been available since the early 1990s. The second phase was based on quantitative data analysis, making use of the Family Resources Survey (FRS) and the ABI Risk and Protection Survey. We analysed the take-up of insurances and how it was influenced by attitudes and socio-demographic characteristics. Third, we conducted 61 qualitative interviews, where we explored personal risk management strategies of middle-income households from Scotland and England. The main result was a typology of risk management rationales that guide household economies. This stage also explored the ramifications of the recent financial uncertainties and economic downturn. Comparing England and Scotland, the purpose was to review Britain's current 'mixed economy of welfare' in key areas: unemployment, sickness, costs of higher education for children, retirement and infirmity in old age. The aim was to map the types of statutory protection against such risks and contingencies and examine changes in the scope of public provision. In parallel, we will examine the scope of non-statutory (occupational and personal) provision, investigating how 'private welfare markets' have developed since the early 1990s. The second phase is based on quantitative data analysis of household savings and investment behaviour in insurances and private market-based contracts for risk protection. Finally, via qualitative interviews, we explore personal risk management of socially and economically similar families from Scotland and England. This stage will also explore the potential ramifications of the most recent financial uncertainties and economic downturn.
unemployment, sickness, retirement, higher education
UK Data Archive
Clasen, Jochen
a63b43e1-9213-400b-b55a-b5d3a8236eb7
Andow, Caroline
7eef2413-8231-4280-9bfe-0da6d96e9c22
Koeppe, Stephan
e3a01b7b-f934-4000-9aff-288f18b0cabb
Koslowski, Alison
f0603db1-732b-486b-bb8e-39cb6ea87a95
Meyer, Traute
ee469bf0-ab32-43ac-9f25-1261c24123fe
Clasen, Jochen
a63b43e1-9213-400b-b55a-b5d3a8236eb7
Andow, Caroline
7eef2413-8231-4280-9bfe-0da6d96e9c22
Koeppe, Stephan
e3a01b7b-f934-4000-9aff-288f18b0cabb
Koslowski, Alison
f0603db1-732b-486b-bb8e-39cb6ea87a95
Meyer, Traute
ee469bf0-ab32-43ac-9f25-1261c24123fe

Clasen, Jochen, Andow, Caroline, Koeppe, Stephan, Koslowski, Alison and Meyer, Traute (2015) Welfare Markets and Personal Risk Management in England and Scotland. UK Data Archive doi:10.5255/UKDA-SN-851865 [Dataset]

Record type: Dataset

Abstract

The project adopted a broad approach, employing quantitative as well as qualitative methods. It covered both public and private forms of risk protection, and it analysed attitudes as well as actual behavior. First, we reviewed Britain's current 'mixed economy of welfare' in the aforementioned five key areas. We mapped the social programmes, occupational schemes and private options that have been available since the early 1990s. The second phase was based on quantitative data analysis, making use of the Family Resources Survey (FRS) and the ABI Risk and Protection Survey. We analysed the take-up of insurances and how it was influenced by attitudes and socio-demographic characteristics. Third, we conducted 61 qualitative interviews, where we explored personal risk management strategies of middle-income households from Scotland and England. The main result was a typology of risk management rationales that guide household economies. This stage also explored the ramifications of the recent financial uncertainties and economic downturn. Comparing England and Scotland, the purpose was to review Britain's current 'mixed economy of welfare' in key areas: unemployment, sickness, costs of higher education for children, retirement and infirmity in old age. The aim was to map the types of statutory protection against such risks and contingencies and examine changes in the scope of public provision. In parallel, we will examine the scope of non-statutory (occupational and personal) provision, investigating how 'private welfare markets' have developed since the early 1990s. The second phase is based on quantitative data analysis of household savings and investment behaviour in insurances and private market-based contracts for risk protection. Finally, via qualitative interviews, we explore personal risk management of socially and economically similar families from Scotland and England. This stage will also explore the potential ramifications of the most recent financial uncertainties and economic downturn.

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More information

Published date: 2015
Keywords: unemployment, sickness, retirement, higher education

Identifiers

Local EPrints ID: 434244
URI: http://eprints.soton.ac.uk/id/eprint/434244
PURE UUID: ede49903-eafa-452a-a6f8-161bd7a76708
ORCID for Traute Meyer: ORCID iD orcid.org/0000-0003-0767-8351

Catalogue record

Date deposited: 17 Sep 2019 16:30
Last modified: 30 Jan 2020 01:30

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Contributors

Creator: Jochen Clasen
Creator: Caroline Andow
Creator: Stephan Koeppe
Creator: Alison Koslowski
Creator: Traute Meyer ORCID iD

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