Working Papers

The special tax treatment of UK pensions means that the decision on how to use pensions assets is more involved than in other tax jurisdictions. In particular, the ability to take up to 25% of pensions assets as a tax-free cash lump sum at retirement offers retirees...

In this paper, I look at the effect of the change in the cost to an employer of providing a defined benefit ("DB") pension on the overall cost of remunerating an employee and compare that with the cost of remunerating an employee with no such pension benefits. I allow...