ABSTRACT
The purpose of this chapter is to consider future pension expenditure in relation to the size of the national economy, using a range of economic, demographic and actuarial assumptions. The first section describes a simple model for the estimation of the aggregate loss of pension rights on the transfer of jobs, that is, for ‘early leavers’. The second section then goes on to use this simple model and the results of Chapters 8-10 to project pension expenditure.
