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EU Pension policy and financialisation: purpose without power?

Schelkle, Waltraud (2019) EU Pension policy and financialisation: purpose without power? Journal of European Public Policy, 26 (4). pp. 599-616. ISSN 1350-1763

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Identification Number: 10.1080/13501763.2019.1574871

Abstract

This article asks whether the EU’s pension policy promotes and achieves financialisation of old age security. Financialisation in this context means financial market integration that, in conjunction with pension reforms in member states, creates a market-based mode of governance for old age security. After an overview of how significant private pension funds have become in the EU, the article takes a most-likely case study of financialisation, the Pan-European Pension Product (PEPP), to see how successful the EU’s pension policy proved to be in establishing the PEPP. The findings suggest that EU policymaking in pensions tries to instrumentalise financial market integration for pension provision but this does not necessarily lead to financialisation of old age security. Market integration is a multi-faceted process of creating, emulating and correcting markets that obstructs a single-minded policy thrust like financialisation.

Item Type: Article
Additional Information: © 2019 Informa UK Limited, trading as Taylor & Francis Group This research was funded by the German Federal Ministry of Education and Research, BMBF (Bundesministerium für Bildung und Forschung). [grant number 01UF1508].
Divisions: European Institute
Date Deposited: 26 Feb 2019 12:33
Last Modified: 15 Nov 2019 00:14
URI: http://eprints.lse.ac.uk/id/eprint/100135

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