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Pension policies after EU enlargement: Between financial market integration and sustainability of public finances

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  • Wehlau, Diana
  • Sommer, Jörg

Abstract

On May 1st, 2004, the European Union (EU) carried out the most comprehensive enlargement since its establishment in 1957 with the accession of eight Central- and Eastern European Countries (CEEC) as well as Malta and Cyprus. Within this enlarged EU two major political aims were set up, namely the integration of financial markets on the one hand and the sustainability of public finances as well as of pension systems on the other hand. With the example of the recently accessed countries, this paper links these two objectives and raises the question, whether central EU authorities attempt to push for (further) pension privatisation in the new Member States of the enlarged EU in order to promote a single, globally competitive financial market. This paper gives no definite empirical evidence for this link. However, the emerging tendencies in this area call for further research.

Suggested Citation

  • 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).
  • Handle: RePEc:zbw:zeswps:102004
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    References listed on IDEAS

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    1. Gary Burtless, 2000. "Social Security Privatization and Financial Market Risk: Lessons from U.S. Financial History," Discussion Papers of DIW Berlin 211, DIW Berlin, German Institute for Economic Research.
    2. Whitehouse, Edward, 1999. "The tax treatment of funded pensions," MPRA Paper 14173, University Library of Munich, Germany.
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    Cited by:

    1. Zaidi, Asghar & Grech, Aaron George & Fuchs, Michael, 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.
    2. Schmähl, Winfried, 2005. "Nationale Rentenreformen und die Europäische Union: Entwicklungslinien und Einflusskanäle," Working papers of the ZeS 03/2005, University of Bremen, Centre for Social Policy Research (ZeS).

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