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Defined benefit occupational pension schemes are a valuable employee benefit. This paper looks at problems in their design and considers whether it is possible to address them. The risk profile of money purchase schemes is described, with particular reference to employees in less secure employment categories. These considerations are set alongside the requirements employers have from occupational pension schemes. The conclusion is that money purchase schemes fail to meet employees' needs, in particular at a time when the security and level of state pensions is being progressively eroded. An alternative defined benefit structure is proposed, that is, the revalued career average pension scheme. It is argued that this benefit structure can be made attractive to both employers and employees, as it addresses many of the problems associated with final salary schemes and provides pension scheme members with the security they value.

Purpose
Most business organisations try to create and maintain trustful relationships with their various stakeholders. Among all, sustaining a trustful relationship with employees has been particularly important for organisations. However, due to the multidimensional structure and changing nature of concept across settings, it is difficult to identify what makes an organisation trustworthy for its employees. The purpose of this study is to analyse the concept of organisational trust and identify how employees actually define organisational trust.


Design/methodology/approach
In the study, a survey was conducted on a sample of 104 employees who were working in Turkey. Following a qualitative and quantitative approach, the data were analysed to categorise the definitions of respondents according to the theoretical framework.


Findings
The findings of study closely overlap with the relevant literature, but they also extend the scope of definition with including new factors such as reputation management, strategic management or ethics and values. According to results, the perceptions of employees on organisational trust vary depending on their individual and organisational characteristics.


Practical implications
The study reveals the context depending nature of organisational trust. Developing a wider sense by capturing its full meaning and reflecting the different expectations of employees can increase the trust in organisations.


Originality/value
Based on the detailed review of literature, the study identifies the major dimensions of organisational trust and then reveals the similarities and differences with the literature. The study provides a viable perspective on the concept to capture its meaning in different contexts.

During 1918–20 twenty-four states enacted some form of pension legislation for public officials and employees. Congress established a retirement system for civil service employees. Various Canadian provinces, several British colonial governments, and a few European states legislated in favor of civil pensions.In the United States this recent activity is the culmination of a half century of agitation, experimentation and controversy in the matter of civil pensions, whether national, state, county or municipal. Private pensions in various American industries have doubtless favorably influenced the development of government pensions.This development has resulted in the use of many conflicting definitions of the term "pension." Due to some aversion to that word, many confusing substitute terms have been used such as: retirement system, vocational insurance, deferred pay, indefinite leave of absence, retiring salary, graduated bonus, gratuity, annuity, superannuation allowance, service relief, old age assurance, provident fund, actuarial equivalent, and public officers' guarantee fund. As used in this article the term civil pension is intended to imply a regular allowance granted to a person for that person's maintenance or the maintenance of one or more persons dependent on the pensioner, that allowance being usually paid in consideration of the pensioner's meritorious services to the grantee; but it may be granted as a deferred wage or salary, as an annuity or as a form of regularly paid charity without reference to any consideration of gratuity, of wages, or of deferred dividends.

Incorporating more informal workers into the employee public pension scheme (EPPS) is a crucial component of building a high-quality employment security system in China. This study, based on data from the China Family Panel Studies (CFPS) for the years 2014, 2016, and 2018, empirically analyzes the impact of Internet usage on the participation of informal workers in the EPPS. The research finds that informal workers significantly increase the possibility of participation in the EPPS through the Internet usage. This positive effect remains significant even after a series of robustness tests. Heterogeneity analyses argue that informal workers with higher educational level are more likely to participate in employee public pension scheme through the Internet Usage than informal workers with lower educational level. Mechanism analysis suggests that informal workers significantly raise their government trust through the Internet usage, thereby promoting their participation in the EPPS. Based on the empirical results, the following policy recommendations are proposed: government should further utilize the Internet to streamline online enrollment procedures, reducing the time costs for informal workers to participate in the EPPS. Additionally, the government should actively engage with the public through the Internet to enhance its image and deepen the level of government trust of informal workers, thereby increasing their motivation to participate in the EPPS.

PurposeThe paper aims to examine the role of an occupational pension in employees' psychological contracts, the degree to which such pensions influence decisions relating to employee recruitment and retention, and attitudes of managerial employees to the recent Employment Equality (Age) Regulations.Design/methodology/approachThirty‐six in‐depth interviews were conducted with managerial employees in order to examine the topics described above.FindingsIt is found that the role of an occupational pension in employees' psychological contracts is related to age, and that they play a much greater role in the psychological contracts of older employees. The provision of an occupational pension was found to be more successful in promoting the retention rather than the recruitment of staff. The managerial employees interviewed were overwhelmingly supportive of the introduction of the recent Employment Equality (Age) Regulations, but some expressed scepticism that they would be implemented faithfully by their organisations.Research limitations/implicationsFurther research is needed to examine the impact of the widespread closure of defined benefit pension schemes on employment decisions. The small sample size used in this research means no claims can be made to external validity.Originality/valueThe original features of the paper are that the authors apply the psychological contract framework in analysing the degree to which employees value their occupational pensions, employees themselves are interviewed rather than their employers in assessing the impact of an occupational pension on recruitment and retention, and the paper provides an early assessment to the recent introduction of age discrimination.

India's civil service retirement benefit system, based on a defined benefit scheme, imposed an annual expenditure of over $30 billion on the central and state governments. In an effort to truncate the unfunded scheme, which covers 30 million central and state government employees, the Government of India in 2004 decided to replace the traditional defined benefit scheme with a defined contributory scheme known as the New Pension Scheme. This book contains an account of the efforts of five states - Assam, Bihar, Chhattisgarh, Jharkhand, and Madhya Pradesh - to estimate their current pension liabilities, project annual pension costs over the next 15-25 years, and explore options for managing their annual costs. Using newly constructed employee databases, the book discusses in detail the projections for each state and suggests cost-saving measures based on specific needs. Also included is a lengthy discussion of the lessons that emerged in database construction and practical recommendations in managing pension costs.

India's civil service retirement benefit system, based on a defined benefit scheme, imposed an annual expenditure of over $30 billion on the central and state governments. In an effort to truncate the unfunded scheme, which covers 30 million central and state government employees, the Government of India in 2004 decided to replace the traditional defined benefit scheme with a defined contributory scheme known as the New Pension Scheme. This book contains an account of the efforts of five states - Assam, Bihar, Chhattisgarh, Jharkhand, and Madhya Pradesh - to estimate their current pension liabilities, project annual pension costs over the next 15-25 years, and explore options for managing their annual costs. Using newly constructed employee databases, the book discusses in detail the projections for each state and suggests cost-saving measures based on specific needs. Also included is a lengthy discussion of the lessons that emerged in database construction and practical recommendations in managing pension costs.

Income insecurity in old age is likely to be one key cause of increased poverty in South Asia, and setting up systems to avert this crisis should be a central public policy goal of each country. Several countries in the region are therefore beginning to evaluate a range of policy options for pension reforms. Given the remarkable similarity of each country in terms of demography, labor markets, and political structures, lessons from both success and failure in pension policy design and implementation are highly portable from one country to another within the region. This publication proposes the establishment of a South Asia Pension Forum that is intended to foster and support intensive policy analysis, research, and consultation on pension reforms and social security within the region.

Income insecurity in old age is likely to be one key cause of increased poverty in South Asia, and setting up systems to avert this crisis should be a central public policy goal of each country. Several countries in the region are therefore beginning to evaluate a range of policy options for pension reforms. Given the remarkable similarity of each country in terms of demography, labor markets, and political structures, lessons from both success and failure in pension policy design and implementation are highly portable from one country to another within the region. This publication proposes the establishment of a South Asia Pension Forum that is intended to foster and support intensive policy analysis, research, and consultation on pension reforms and social security within the region.

Around the time of their adoption, reformers argued pensions would help encourage public employees to retire rather than remain in their jobs indefinitely. However, the significance of specific pension policies for retirements within numerous plans is not well-known. Using new data on service retirements from 81 state-employee defined-benefit plans between 2001 and 2019, I examine pensions' relationship with retirements, while also accounting for other variables that might matter. The results indicate that early retirement incentives, relaxed post-retirement work restrictions, and higher employee pension contributions are all associated with more retirements, while increased employer contributions and cost-of-living adjustments are associated with fewer. As governments continue to consider fiscal reforms to retirement plans, they also should keep their personnel needs and pensions' relationships with them in mind.

AbstractIn the context of the new automatic enrolment requirements for all eligible employees to make pension provision for their employees, and the importance of trust in pension provision, this article utilises data from the Scottish Social Attitudes Survey, which, in its 2005 wave, asked correspondents specific questions regarding pension provision. We integrate two different empirical approaches in order to achieve a more robust understanding of pension confusion in Scotland. We find that pension confusion is dominated by pension uncertainty and myopia, but these may be reduced for those working in the financial sector. We consider the implications of these findings for the relationship of trust between employers and their employees, as well as for trust in government pension policy more generally.