ABSTRACT
The first part of this chapter looks at the development of the 'pensions issue' in a historical context, tracing the erratic course of government pensions policy since 1940, in order to illustrate the essentially political nature of decisions taken by government where pensions are concerned. It follows the response to government policy of the pensioners' movement, demonstrating the tendency of the movement to adopt the stance of a 'single issue' pressure group, the single issue in question being that of restoring the link with average earnings, which was broken in 1980. The Labour Party's policy on pensions came to place increasing emphasis on relating retirement income more closely to the living standards of the working population. The chapter concludes by reflecting on the opposition the pensioners' movement has faced in mounting its campaign to have the link restored. The state pension was to provide guaranteed financial security in the last part of the life-course Britain.
