6/21/2004: Reforming the UK Retirement System: Privatization Plus a Safety Net (PDF) (Steven A. Sass via Center for Retirement Research at Boston College)

16 pages. Excerpt: Going forward, Britain's retirement income system will increasingly rely on individual accounts and means-tested assistance. The individual accounts are not well funded and carry significant risk. The disincentive to work or save created by the expanded means-tested program across a broad range of households further clouds the system's prospects. As a result, observers generally expect an increase in public expenditures on the elderly and further reforms to the system.