15 Years of Pension Reform in Germany: Old Successes and New Threats
The article surveys the state of the German pension system after a sequence of reforms aimed at achieving long-term sustainability. We argue that the latest reforms have moved pension provision in Germany in principle from a defined benefit to a defined contribution scheme, and that this move has stabilised pension finances to a large extent. We furthermore argue that the real economy consequences of the global financial crisis create threats to the core success factors of the reforms – cutting pension levels and raising mandatory pension age. Finally the article discusses further possible reform measures, including the option to install a fourth pillar, providing income in retirement through working after pension age.
Volume (Year): 34 (2009)
Issue (Month): 4 (October)
|Contact details of provider:|| Web page: http://www.palgrave-journals.com/|
Postal:Route de Malagnou 53, CH - 1208 Geneva
Phone: +41-22 707 66 00
Fax: +41-22 736 75 36
Web page: https://www.genevaassociation.org/
More information through EDIRC
|Order Information:||Web: http://www.springer.com/finance/journal/41288/PS2|
When requesting a correction, please mention this item's handle: RePEc:pal:gpprii:v:34:y:2009:i:4:p:548-560. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Rebekah McClure)
If references are entirely missing, you can add them using this form.