Two Decades of Pension Reform: What has been Achieved and What Remains to be Done?
AbstractThe past two decades have seen a wave of reforms to retirement income systems around the world. This paper describes the reform packages that have taken place in 38 industrialised economies, some of them involving incremental changes to existing provision, others, an overhaul of the entire retirement income system. The changes had many objectives. First, improved coverage of the pension system, especially of voluntary private pensions, was a common goal. Second, some reforms aimed to improve the adequacy of retirement benefits to combat old age poverty. Third, the pressure of population ageing and the maturing of pension schemes meant that fiscal sustainability of public pensions – primarily through reductions in future benefits – were very common. Often, the improvement to long-term finances will be achieved through encouraging people to work longer, through increases in pension eligibility ages and adjustments to pension incentives to retire. Finally, some reforms aimed at streamlining the administration of retirement income provisions and to improve the security of benefits in the face of different risks and uncertainties.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Palgrave Macmillan in its journal The Geneva Papers on Risk and Insurance Issues and Practice.
Volume (Year): 34 (2009)
Issue (Month): 4 (October)
Contact details of provider:
Web page: http://www.palgrave-journals.com/
Postal: Palgrave Macmillan Journals, Subscription Department, Houndmills, Basingstoke, Hampshire RG21 6XS, UK
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Renaat Van de Kerckhove & Freddy Heylen & Tim Buyse, 2011.
"Pension reform, employment by age, and long-run growth in OECD countries,"
2011 Meeting Papers
736, Society for Economic Dynamics.
- T. Buyse & F. Heylen & R. Van De Kerckhove, 2011. "Pension reform, employment by age, and long-run growth in OECD countries," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 11/719, Ghent University, Faculty of Economics and Business Administration.
- Goulão, Catarina & Gouveia, Miguel, 2011. "Are we doing enough to discourage early retirement?," TSE Working Papers 11-220, Toulouse School of Economics (TSE).
- Tim Buyse & Freddy Heylen & Renaat Van de Kerckhove, 2013.
"Pension reform, employment by age, and long-run growth,"
Journal of Population Economics,
Springer, vol. 26(2), pages 769-809, April.
- Tim BUYSE & Freddy HEYLEN & Renaat VAN DE KERCKHOVE, 2011. "Pension reform, employment by age and long-run growth," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2011025, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Luca Marchiori & Olivier Pierrard & Henri R. Sneessens, 2011.
"Demography, capital flows and unemployment,"
CREA Discussion Paper Series
11-14, Center for Research in Economic Analysis, University of Luxembourg.
- Marchiori, Luca & Pierrard, Olivier & Sneessens, Henri R., 2011. "Demography, Capital Flows and Unemployment," IZA Discussion Papers 6094, Institute for the Study of Labor (IZA).
- Luca MARCHIORI & Olivier PIERRARD & Henri R. SNEESSENS, 2011. "Demography, capital flows and unemployment," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2011040, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Luca Marchiori & Olivier Pierrard & Henri R. Sneessens, 2011. "Demography, capital flows and unemployment," BCL working papers 69, Central Bank of Luxembourg.
- T. Buyse & F. Heylen & R. Van De Kerckhove, 2012. "Pension reform in an OLG model with heterogeneous abilities," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 12/810, Ghent University, Faculty of Economics and Business Administration.
- Takayama, Noriyuki, 2013. "Intergenerational Equity and the Gender Gap in Pension Issues," CIS Discussion paper series 605, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Elizabeth Gale).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.