Social Security privatizationLessons from the United Kingdom

Social Security privatization

Lessons from the United Kingdom

Williamson

John B.

Williamson, John B.

Dept. of Sociology, Boston College

Author

text

working paper

Chestnut Hill, Mass. Center for Retirement Research at Boston College20002000monographic

Chestnut Hill, Mass.

Center for Retirement Research at Boston College

2000

monographic

Englisheng

English

eng

electronicapplication/pdfborn digital

electronic

application/pdf

born digital

This study draws lessons for the debate about the proposed partial privatization of Social Security in the United States based on evidence from the United Kingdom. The British case suggests that privatization may lead to a reduction in the pension burden on the national budget if combined with substantial cuts in benefits. Such reforms may have positive effects on the economy, but any such benefits would come at the cost of increased inequality and lower pension benefits for many low-wage workers, particularly women. Because Social Security is a path dependent process, policy history differences make it less likely that Americans will easily accept the level of privatization found in Britain.

John B. Williamson.

CRR WP2000-10

CRR WP

2000-10

http://crr.bc.edu/images/stories/Working_Papers/wp_2000-10.pdf

MChBEnglisheng

MChB

Englisheng

English

eng