Financialisation and social protection? The UK’s path towards a socially protective public–private pension system
Financialisation and social protection? The UK’s path towards a socially protective public–private pension system
Consideration of pension financialisation in recent years has focused on the rise of defined contribution pensions, highlighting the greater level of individualised interaction this has encouraged between citizens and the financial sector. This development has generally been seen as unequivocally neo-liberal, complementary to retrenching reforms replacing private provision for public. This chapter, in contrast, argues for a less rigid, more fluid understanding of UK pension financialisation, one that has entailed the interaction of financialising and progressive social protection agendas in a politics more diverse and negotiated than proposed in the current literature. The result in 2019 is a UK public-private pension mix under which at least some traditional social protection objectives are met through social regulation rather than public provision. To emphasise the continuing role for agents in today’s system, the paper finishes by proposing two ambitious, but feasible, regulatory reforms designed to enhance the system’s socially protective features.
47-70
Bridgen, Paul
6a2060f6-cbab-47d4-a831-ff82350055c9
1 June 2019
Bridgen, Paul
6a2060f6-cbab-47d4-a831-ff82350055c9
Bridgen, Paul
(2019)
Financialisation and social protection? The UK’s path towards a socially protective public–private pension system.
In,
Heins, Elke, Needham, Catherine and Rees, James
(eds.)
Social Policy Review 31: Analysis and Debate in Social Policy, 2019.
Policy Press, .
(doi:10.1332/policypress/9781447343981.003.0003).
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Book Section
Abstract
Consideration of pension financialisation in recent years has focused on the rise of defined contribution pensions, highlighting the greater level of individualised interaction this has encouraged between citizens and the financial sector. This development has generally been seen as unequivocally neo-liberal, complementary to retrenching reforms replacing private provision for public. This chapter, in contrast, argues for a less rigid, more fluid understanding of UK pension financialisation, one that has entailed the interaction of financialising and progressive social protection agendas in a politics more diverse and negotiated than proposed in the current literature. The result in 2019 is a UK public-private pension mix under which at least some traditional social protection objectives are met through social regulation rather than public provision. To emphasise the continuing role for agents in today’s system, the paper finishes by proposing two ambitious, but feasible, regulatory reforms designed to enhance the system’s socially protective features.
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e-pub ahead of print date: 1 March 2019
Published date: 1 June 2019
Additional Information:
Copyright © 2022 Oxford University Press
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Local EPrints ID: 468059
URI: http://eprints.soton.ac.uk/id/eprint/468059
PURE UUID: fc7ed340-62e9-473f-b855-b3ad9a293fe1
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Date deposited: 29 Jul 2022 16:38
Last modified: 17 Mar 2024 02:48
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Contributors
Editor:
Elke Heins
Editor:
Catherine Needham
Editor:
James Rees
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