The financial well-being of older people in Europe and the redistributive effects of minimum pension schemes
This study analyses the financial well-being of elderly people across Europe. Using the European microsimulation model EUROMOD, which facilitates the identification of minimum pension schemes in a comparable way across countries, we show the extent to which these schemes serve to reduce the risk of poverty among elderly. The main findings show that there is a strong correlation between the resources allocated to the minimum pension schemes and the reduction in poverty risk among the elderly. Nevertheless, the financial well-being of older people depends crucially on the pension system as a whole. Countries with generous minimum pension schemes seem to allocate relatively fewer resources to other pillars of the pension system. On the one hand, they are more effective in reducing elderly poverty rates. On the other hand, they fail to ensure a level of financial well-being of older people in line with the overall population.
|Date of creation:||23 Dec 2011|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +44 (0)1206 872957
Fax: +44 (0)1206 873151
Web page: https://www.iser.essex.ac.uk/euromod/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Callan, Tim & Leventi, Chrysa & Levy, Horacio & Matsaganis, Manos & Paulus, Alari & Sutherland, Holly, 2011. "The distributional effects of austerity measures: a comparison of six EU countries," EUROMOD Working Papers EM6/11, EUROMOD at the Institute for Social and Economic Research.
- Dang, Thai-Thanh & Immervoll, Herwig & Mantovani, D. & Orsini, Kristian & Sutherland, Holly, 2006.
"An age perspective on economic well-being and social protection in nine OECD countries,"
EUROMOD Working Papers
EM3/06, EUROMOD at the Institute for Social and Economic Research.
- Thai-Thanh Dang & Herwig Immervoll & Daniela Mantovani & Kristian Orsini & Holly Sutherland, 2006. "An Age Perspective on Economic Well-Being and Social Protection in Nine OECD Countries," OECD Social, Employment and Migration Working Papers 34, OECD Publishing.
- Dang, Thai-Thanh & Immervoll, Herwig & Mantovani, Daniela & Orsini, Kristian & Sutherland, Holly, 2006. "An Age Perspective on Economic Well-Being and Social Protection in Nine OECD Countries," IZA Discussion Papers 2173, Institute for the Study of Labor (IZA).
- Goedemé Tim & Van Lancker Wim, 2009. "A Universal Basic Pension for Europe's Elderly: Options and Pitfalls," Basic Income Studies, De Gruyter, vol. 4(1), pages 1-26, August.
- Eckardt, Martina, 2003. "The Open Method of Co-ordination on Pensions - An Economic Analysis of its Effects on Pension Reforms," Thuenen-Series of Applied Economic Theory 39, University of Rostock, Institute of Economics.
- Mantovani, Daniela & Sutherland, Holly, 2003. "Social indicators and other income statistics using the EUROMOD baseline: a comparison with Eurostat and National Statistics," EUROMOD Working Papers EM1/03, EUROMOD at the Institute for Social and Economic Research.
- Carlo V Fiorio & Francesco D'Amuri, 2006. "Tax Evasion In Italy: An Analysis Using A Tax-Benefit Microsimulation Model," The IUP Journal of Public Finance, IUP Publications, vol. 0(2), pages 19-37, May.
- Kenworthy, Lane, 2011. "Progress for the Poor," OUP Catalogue, Oxford University Press, number 9780199591527.
- Michael Fuchs & Aaron George Grech & Asghar Zaidi, 2006.
"Pension Policy in EU25 and its Possible Impact on Elderly Poverty,"
case116, Centre for Analysis of Social Exclusion, LSE.
- Asghar Zaidi & Aaron George Grech & Michael Fuchs, 2006. "Pension policy in EU25 and its possible impact on elderly poverty," LSE Research Online Documents on Economics 6225, London School of Economics and Political Science, LSE Library.
- Atkinson, Tony, et al, 2002. "Microsimulation of Social Policy in the European Union: Case Study of a European Minimum Pension," Economica, London School of Economics and Political Science, vol. 69(274), pages 229-43, May.
- Grech, Aaron George, 2007. "Pension policy in EU25 and its impact on pension benefits," MPRA Paper 33669, University Library of Munich, Germany.
- Peter Whiteford & Edward Whitehouse, 2006. "Pension Challenges and Pension Reforms in Oecd Countries," Oxford Review of Economic Policy, Oxford University Press, vol. 22(1), pages 78-94, Spring.
- Holly Sutherland & Ruth Hancock & John Hills & Francesca Zantomio, 2008.
"Keeping up or Falling behind? The Impact of Benefit and Tax Uprating on Incomes and Poverty,"
Institute for Fiscal Studies, vol. 29(4), pages 467-498, December.
- Eva Sierminska & Andrea Brandolini & Timothy M. Smeeding, 2007. "Cross-National Comparison of Income and Wealth Status in Retirement: First Results From the Luxembourg Wealth Study (LWS)," Working Papers, Center for Retirement Research at Boston College wp2007-03, Center for Retirement Research, revised Feb 2007.
When requesting a correction, please mention this item's handle: RePEc:ese:emodwp:em7-11. 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: (Paul Groves)The email address of this maintainer does not seem to be valid anymore. Please ask Paul Groves to update the entry or send us the correct address
If references are entirely missing, you can add them using this form.