Abstract
1. Terms of ReferenceOur terms of reference were as follows:To prepare a study on the impact of pension payments on the national economy, with particular reference to the following matters:The financial and economic effects of pension rights of all kinds (under National Insurance, Civil Service and Local Government schemes, schemes for nationalized industries and under private schemes, both by private funds and with Life Offices) having regard to the future population trends in the United Kingdom and, in particular, the growing number of aged persons in the population over the next few decades.The relation between the trend of productivity and the growth of pension rights. The financial and economic effects of funding and assessmentism. The financial and economic effects of funding and assessmentism.
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