The Thatcherite pension reforms

Since the end of 2006 there has been a widespread consensus that Britain's pension system is seriously dysfunctional. The debate over the nature and extent of the 'pensions crisis,' and over ways in which it might best be remedied, has been extensive and given rise to a number of policy responses. Yet surprisingly little attention has been given to the historical roots of that crisis, or to the ways in which the historical development of Britain's complex system of public and private provision for security in old age both helped to create the crisis and constrains options for change. The reforms implemented in the 1980s marked a key moment in the development of Britain’s overall system of income replacement in old age. Yet we lack any detailed historical survey of developments in that decade utilising primary sources from the period. Without fully understanding the roots of the pension problem how can we solve it effectively? Lacking such an understanding we are in danger of repeating mistakes made in the past. This project will fill this significant void in our understanding. Taking advantage of the accelerated release of official and other records consequent on the government’s decision to move to a ’20-year rule’ for document release it will examine in detail the policy changes of the 1980s. The project aims to provide a link between contemporary historical research, political science theory, and present policy debates about the future of British pensions in the twenty-first century. It will also provide us with a rich case study of a key aspect of the 'Thatcher Revolution', and of the implementation of a particular variety of neoliberalism in the UK.