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Pension Reform in the EU Accession Countries: Challenges, Achievements and Pitfalls

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  • Elaine Fultz

Abstract

Like the current member States of the European Union (EU), the 13 accession countries have diverse pension systems that vary in the adequacy of benefits, the degree of solidarity, and the roles of government, workers, employers, and pension funds in scheme management. Since the mid‐1990s, nearly all have increased their pensionable age and adopted new systems for voluntary supplemental pension savings. Five have scaled down their social insurance schemes in favour of new systems of commercially managed individual savings accounts. The article discusses these reforms and their match with key elements of the countries' political and economic environments, financial markets and regulatory experience. It highlights alternative approaches to pension protection for retired workers in conditions of ageing populations.

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  • Elaine Fultz, 2004. "Pension Reform in the EU Accession Countries: Challenges, Achievements and Pitfalls," International Social Security Review, John Wiley & Sons, vol. 57(2), pages 3-24, April.
    • Handle: RePEc:wly:intssr:v:57:y:2004:i:2:p:3-24
    DOI: 10.1111/j.1468-246X.2004.00185.x
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    Cited by:

    1. Marianne A. Ferber & Patricia Simpson, 2009. "Whither Systemic Reform? A Critical Review of the Literature on the Distributional and Income Adequacy Effects of Systemic Pension Reforms," management revue - Socio-Economic Studies, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 20(3), pages 254-276.
    2. Takumi HORIBAYASHI, 2006. "The Social Dimension of European Integration and Enlargement: 'Social Europe' and Eastern Enlargement of the EU," The Journal of Comparative Economic Studies (JCES), The Japanese Society for Comparative Economic Studies (JSCES), vol. 2, pages 3-31, July.
    3. Wehlau, Diana & Sommer, Jörg, 2004. "Pension policies after EU enlargement: Between financial market integration and sustainability of public finances," Working papers of the ZeS 10/2004, University of Bremen, Centre for Social Policy Research (ZeS).
    4. repec:ilo:ilowps:398678 is not listed on IDEAS
    5. Ales S. BERK & Mitja COK & Marko KOSAK & Joze SAMBT, 2013. "CEE Transition from PAYG to Private Pensions: Income Gaps and Asset Allocation," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 63(4), pages 360-381, August.

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