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Informationen zum Autor Amanda Cooke is a pensions lawyer and Guest Lecturer at the University of Edinburgh Law School, UK. Vorwort Timely work offering a comparative perspective on the questions of saving for retirement, financial decision making and legal policy with reference specifically to the policy of Auto-Enrolment in the UK. Zusammenfassung This book explores the historical position of pensions law in the UK and the recent influences which have led to the introduction of Auto-Enrolment and subsequent reforms. Alternative models, such as the US and Australia, are also considered as well as the function of law in bringing about political changes. The question of saving for retirement is of national and international importance and many governments are wrestling with the issue of how to deal with the pension funding crisis. Consequently political policy has, in many cases, combined with behavioural science to inform new laws which have acted to shift the burden from the state into the private sector. Around the world responsibility is being moved onto individuals and employers as the state retreats from provision of state support in retirement; this book offers a sophisticated analysis of the role of legal intervention to facilitate this shift. The book explores the work of behavioural economics, its global influence on understanding financial decision-making and its application to legislation which seeks to influence consumer outcomes. Drawing on qualitative empirical research to explore the experience of implementation of Auto-Enrolment, this timely work considers the interaction with the work of behavioural science to highlight the social costs of the new regulatory regime.This title is included in Bloomsbury Professional's Pensions Law online service. Inhaltsverzeichnis 1. An Introduction to the Work I. Background II. Pensions A. Public Sector Pensions B. Private Pensions: Occupational Pension Schemes III. Key Policy Considerations IV. The Road to Auto-Enrolment: The Rise and Fall of Voluntary Private Pensions V. The Road to Auto-Enrolment: The Pensions Commission VI. Lessons from Abroad VII. Conclusion 2. Introduction of Auto-Enrolment to the UK I. Auto-Enrolment and Parliamentary Intent A. Increase Saving by Default B. Prevent a Reduction in Existing Pension Benefits or Levelling Down C. Education of the Workforce D. Private Pension Saving Compatible with State Benefits II. Legislative RealityIII. Post Implementation Legislative Changes A. Value B. Costs and Charges C. Scheme Governance D. Master Trusts E. Taking Pension Benefits IV. Conclusion 3. Legal Paternalism and the Auto-Enrolment Regime I. Introduction II. Autonomy v Law III. Legal Paternalism A. The Rise of Paternalistic Legislation IV. Soft Paternalism or Nudge V. Paternalism and Contracts VI. Intention of Legal Intervention VII. Proof and Value Measurement VIII. Conclusion 4. The Role of Behavioural Economics in Legal Intervention I. Introduction II. Behavioural Economics A. Inertia and Procrastination B. Framing and Presentation C. Social Influences D. Difficulties in Assessing Probability III. The Influence of Behavioural Economics on Law and Policy IV. Regulatory Intervention and Choice Architecture A. Policy of Legal Paternalism B. Choice Architects C. Alternatives to Soft Paternalism/Choice Architecture V. Auto-Enrolment as Choice Architecture A. Auto-Enrolment B. Opting-out C. Defaults D. Auto-Enrolment and Behavioural Bias E. Framing and Disclosure VI. Conclusion 5. Empirical Research Findings I. Introduction to the Research II. Research Design and Methodology III. Findings A. Action B. Barriers to Decisions C. Intervention and Implementation D. Engagement and Understanding E. Trust IV. Conclusion A. Choice and Defaults B. Understanding C. Information D. Individual Perception of Auto-Enrolment ...
