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Pensions During the Crisis: Impact on Retirement Income Systems and Policy Responses

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  • Edward Whitehouse

    () (OECD, rue André Pascal 2, Paris 75775 Paris Cedex 16, France.)

Abstract

The financial and economic crisis has had a profound impact on economies and societies, and pension systems are no exception. This paper illustrates the impact of the financial crisis on private pension schemes and of the wider economic crisis on both private and public retirement income provisions. The analysis shows that no pension scheme and no country is immune from the effects of the crisis. Policy responses to the crisis are explored: both short-term mitigation and addressing long-term, structural problems that have been highlighted and exacerbated by current financial and economic difficulties.

Suggested Citation

  • Edward Whitehouse, 2009. "Pensions During the Crisis: Impact on Retirement Income Systems and Policy Responses," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 34(4), pages 536-547, October.
  • Handle: RePEc:pal:gpprii:v:34:y:2009:i:4:p:536-547
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    References listed on IDEAS

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    Cited by:

    1. Barajas, Adolfo & Catalán, Mario, 2015. "Market discipline and conflicts of interest between banks and pension funds," Journal of Financial Intermediation, Elsevier, pages 411-440.
    2. Adolfo Barajas & Mario Catalan, 2011. "Market Discipline and Conflicts of Interest Between Banks and Pension Funds," IMF Working Papers 11/282, International Monetary Fund.
    3. Godínez-Olivares, Humberto & Boado-Penas, María del Carmen & Haberman, Steven, 2016. "Optimal strategies for pay-as-you-go pension finance: A sustainability framework," Insurance: Mathematics and Economics, Elsevier, pages 117-126.
    4. Rastislav Potocký & Helmut Waldl & Milan Stehlík, 2014. "On Sums of Claims and their Applications in Analysis of Pension Funds and Insurance Products," Prague Economic Papers, University of Economics, Prague, pages 349-370.

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