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Pension Reforms in Central and Eastern Europe: Yet Another Transition...?

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  • G. Heinrich
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    Abstract

    The pay-as-you-go (PAYG) pension schemes in Central and Eastern Europe are on the verge of financial collapse. In this paper, we analyse the causes of the crisis in the old-age income insurance systems and we discuss theoretical and political economy aspects of pensions and retirement behaviour. Piecemeal reforms have created additional distortions in the pension system and deepened its financial crisis. We will discuss proposals for reforms that combine short run policies for adjusting the existing PAYG system and guaranteeing its financial viability with long run policies to phase in a multi-tiered system combining elements of PAYG and fully funded schemes.

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    File URL: http://www.sml.hw.ac.uk/downloads/cert/wpa/1997/dp9705.pdf
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    Bibliographic Info

    Paper provided by Centre for Economic Reform and Transformation, Heriot Watt University in its series CERT Discussion Papers with number 9705.

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    Date of creation: 1997
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    Handle: RePEc:hwe:certdp:9705

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    Cited by:
    1. Roger Charlton & Roddy McKinnon, 2000. "Beyond mandatory privatization: pensions policy options for developing countries," Journal of International Development, John Wiley & Sons, Ltd., vol. 12(4), pages 483-494.

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