Eight: Pensions and income security in later life

With older people in mind, this chapter assesses New Labour’s progress towards its twin goals of tackling poverty and social exclusion among today’s pensioners and ensuring that more of tomorrow’s pensioners retire on a decent income. In 1999, New Labour set out its blueprint in Opportunity for All. This chapter discusses New Labour’s policy agenda in the area of pensions and then assesses the extent to which it has been successful in improving the living standards of the poorest pensioners, now and in the future. It starts by considering the background and inheritance faced by New Labour, including the policy legacy and demographic context that prompted and helped to shape the government’s pension reforms.

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