Assessing the sustainability of pension reforms in Europe
Europe’s pensions landscape has changed dramatically since the 1990s. This paper tries to assess better the impact of these changes using a broad social sustainability framework. Pension wealth estimates for a variety of hypothetical cases are used to assess the ability of systems to alleviate poverty and maintain living standards, while setting out how reforms could change future costs and relative entitlements for different generations. By focusing on all prospective transfers rather than those at retirement and by looking into the interaction between entitlements and labour participation, this approach provides additional insights on the impact of reforms. Our estimates suggest that generosity has fallen significantly, but remains strong in many countries. However, moves to link benefits to contributions have raised adequacy concerns for certain groups and strengthened the need for longer careers. Though reforms have helped address fiscal challenges, in many countries pressures remain strong and further reforms are likely.
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
51474.
| Length: | |
| Date of creation: | 18 Oct 2013 |
| Publication status: | Published in Journal of International and Comparative Social Policy 2.29(2013): pp. 1-20 |
| Handle: | RePEc:pra:mprapa:51474 |
| Contact details of provider: | Postal: Ludwigstraße 33, D-80539 Munich, Germany Phone: +49-(0)89-2180-2459 Fax: +49-(0)89-2180-992459 Web page: https://mpra.ub.uni-muenchen.de More information through EDIRC
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References listed on IDEAS
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