IEA Fellow and Actuary Terry Arthur provides a light-hearted comment on the Turner report
A light-hearted discussion of one of the fallacies underlying the analysis of the Turner report, by Terry Arthur, can be downloaded below. The IEA’s most recent monograph on pensions The Way Out of the Pensions Quagmire
by Professor Philip Booth and Dr Deborah Cooper was published earlier this year. Like Turner it proposed an increase in the state pension retirement age (but to 70) and an increase in the basic state pension. It also proposed that individuals could contract out of the basic state pension and make their own private arrangements and that the state second pension should be abolished.
Neil Record published a paper for the IEA on the burden of public sector workers’ pensions, an issue not covered by the Turner report,
Sir Humphrey’s Legacy: the true cost of public sector pensions
After Turner’s initial report, Tim Congdon published a column in Economic Affairs
titled ‘The pensions commission: is Adair Turner confused or irrational?’
arguing that the reasoning behind Turner’s identified ‘savings gap’ was fallcious.