Uncertain Futures of Post-Brexit Pensions: Three Paradoxical Implications

Post-Brexit pension futures in the UK and the wider Europe will change as a consequence of the UK having left the EU. British state pensions might be more negatively affected by the economic effects of a Brexit without a comprehensive trade agreement. For social Europe, the UK leaving the table will weaken the forces behind marketising pension reforms. Finally, the City’s pro-Brexit financial interests will push further for less regulated financialisation of pensions, making a large share of British retirement income subject to more volatility. Departing from a social Europe that put more brakes on funded pension capitalism, Brexit has thus made UK pension futures less, not more, secure.