Pensions since 1900
The twentieth century saw a significant expansion in the provision of pensions, both by the state and by companies.
State pension system
A state pension was first established in 1908 for a limited section of the older population, and this coverage and provisions of the state pension has developed over the course of the twentieth century and into the twenty-first century.
Read more about the development of the state pension
The provision of pension benefits by employers has expanded significantly over the course of the twentieth century.
Read more about twentieth century occupational pensions
Regulation of pension schemes
As the pensions industry developed and expanded over the course of the twentieth century, governments sought to apply regulations to pension schemes to protect members' benefits, in part in response to incidents in which pension scheme members were in danger of losing their pension savings such as the Maxwell Scandal. In the wake of this incident, the Government set up tighter regulation of pension schemes and compensation mechanisms for members in the 1995 Pensions Act.
Read more about the Maxwell Scandal including articles from those involved in achieving restitution for the Maxwell pensioners.