Towards a new political economy of pensions? The implications for women

Abstract

This article employs a political economy approach to assess the changing nature of women’s pension provision. Initially it provides an overview of the current context showing that many female pensioners are without access to significant pension entitlements in their own right. Then it examines the history of women’s pensions over the last 30 years with reference to both state and private forms of provision. It considers the pension strategies of Thatcher and New Labour governments and their impact on women’s pension situation. This includes an evaluation of recent New Labour proposals, such as Personal Accounts, a raise in the basic State Pension age and reintroduction of the link to earnings. Finally, the paper concludes that these proposals do not represent the emergence of a new political economy of pensions which better reflects the needs of female pensioners rather they are a response to the challenges of an ageing population.