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Assessing the sustainability of pension reforms in Europe

Grech, Aaron George (2013) Assessing the sustainability of pension reforms in Europe. Journal of International and Comparative Social Policy, 29 (2). pp. 143-162. ISSN 2169-9763

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Identification Number: 10.1080/21699763.2013.836980

Abstract

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 into 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. Although reforms have helped address fiscal challenges, in many countries pressures remain strong and further reforms are likely.

Item Type: Article
Official URL: http://www.tandfonline.com/loi/rjcs21#.UpYEDsS-1cY
Additional Information: © 2013 Taylor & Francis
Divisions: Centre for Analysis of Social Exclusion
Subjects: H Social Sciences > HN Social history and conditions. Social problems. Social reform
Sets: Research centres and groups > Centre for Analysis of Social Exclusion (CASE)
Date Deposited: 27 Nov 2013 14:40
Last Modified: 20 Apr 2019 01:06
URI: http://eprints.lse.ac.uk/id/eprint/54663

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