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Can the Nation Afford Pensions? |
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| Authors: | Lord Vinson |
| Institution: | Lord Vinson, with the late Philip Chappell, has actively promoted the concept of personal pensions for the past decade-because he believes that individuals, not institutions, should own. He started his own business at the age of 21 and built it up into a substantial public company which won the Queen's Award for Industry. He has been a Trustee of the IEA since 1971 and is currently Deputy Chairman of Electra Investment Trust PLC. He was made a Life Peer for public service in 1985. |
| Abstract: | Demography-the worsening ratio of the economically active to inactive-will make pensions in their present form unsustainable. Welfarism in the form of universal state pension provision for all can only wither-any individual wishing to do better than his neighbour will have to rely on his own savings. |
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