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Dlouhodobá udržitelnost penzijních systémů zemí Evropské unie
[Long-term Sustainability of Pension Systems of European Union Countries]

Author

Listed:
  • Lenka Lakotová

Abstract

The article analyses the relationship between population ageing and sustainability of the EU countries' pension systems, and assesses how this relationship is affected by pension system design and parameters. The findings show that there is a link between population ageing and unsustainability of pension systems; however, there are exceptions in both directions. Despite the significant problem of population ageing, pension systems of some countries are found to be sustainable and vice versa. The elements enhancing sustainability are, for example, hypothetical defined contribution accounts or linking the pension benefit or retirement age to demographic changes. The article also analyses the relative significance of population ageing determinants. Life expectancy appears to be the most significant determinant of population ageing.

Suggested Citation

  • Lenka Lakotová, 2021. "Dlouhodobá udržitelnost penzijních systémů zemí Evropské unie [Long-term Sustainability of Pension Systems of European Union Countries]," Politická ekonomie, Prague University of Economics and Business, vol. 2021(1), pages 48-72.
    • Handle: RePEc:prg:jnlpol:v:2021:y:2021:i:1:id:1307:p:48-72
    DOI: 10.18267/j.polek.1307
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    References listed on IDEAS

    as
    1. Lee, R., 2016. "Macroeconomics, Aging, and Growth," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 59-118, Elsevier.
    2. Geert Langenus, 2006. "Fiscal sustainability indicators and policy design in the face of ageing," Working Paper Research 102, National Bank of Belgium.
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    More about this item

    Keywords

    pension system; sustainability of public finance; population ageing;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • H68 - Public Economics - - National Budget, Deficit, and Debt - - - Forecasts of Budgets, Deficits, and Debt
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts

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