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Although tax relief on pensions is a controversial area of government expenditure, this is the first study of the tax effects for a real-world defined benefit pension scheme. First, we estimate the tax and national insurance contribution (NIC) effects of the scheme's change from final salary to career average revalued earnings (CARE) in 2011 on the gross and net wealth of the sponsor, government, and 16 age cohorts of members, deferred pensioners, and pensioners. Second, we measure the size of the twelve income tax and NIC payments and reliefs for new members and the sponsor, before and after the rule changes. We find the total subsidy split is roughly 40% income tax subsidy and 60% NIC subsidy. If lower tax rates in retirement and the risk premium effect of the exempt-exempt-taxed (EET) system are not viewed as a tax subsidy, the tax subsidy to members largely disappears. Any remaining subsidy drops, as a proportion of pension benefits, for high earners, as does that for NICs.

This chapter provides an overview of what is currently known in the scientific literature about the effects of disclosures of sponsored content on consumers’ responses.

We provide a qualitative literature review of 21 empirical studies.

Awareness of disclosures is rather low, but when consumers are aware of a disclosure, it successfully activates persuasion knowledge and can increase brand memory. The literature shows inconclusive findings with respect to the effects of disclosures on attention paid to sponsored content, critical processing, brand attitudes, and purchase intentions. In addition, the literature shows that modality of the disclosure has no significant effects, but the content of the disclosure, its timing, its duration, receivers’ moods, and their perceptions of the sponsored content or the endorser are important moderators.

More research is needed on differences in effects of disclosures in different media and on disclosures of online sponsored content online (e.g., sponsored tweets and vlogs).

This chapter provides advertisers with insights on how disclosures affect the persuasiveness of sponsored content in several media.

For legislators, explicit guidelines on how to create effective disclosures of sponsored content are provided. For example, to increase persuasion knowledge, disclosures should be portrayed for at least 3 seconds and if logos are used, they should be accompanied by texts explaining the logo.

This overview is a valuable starting point for future academic research in the domain of disclosure effects and provides insights for advertisers and legislators.