Download or read book Towards sustainable but still adequate pensions in the EU Theory trends and simulations written by Jørgen Mortensen and published by CEPS. This book was released on 2009 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Towards Sustainable But Still Adequate Pensions in the EU written by Juraj Draxler and published by . This book was released on 2009 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pensions More Information Less Ideology written by Tito Boeri and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: Europeans are living longer, and fewer now remain in the labour force as they grow older. Many European countries have responded to the ensuing financial pressure by reforming their public pension systems and health care programmes. There is considerable uncertainty as to the effects of these reforms - as they typically do not alter the unfunded nature of public welfare arrangements and this uncertainty is itself costly. Not only does it undermine the credibility of public welfare programmes, but it may also distort labour supply behaviour, decisions regarding savings and capital accumulation. More generally there is uncertainty about the overall impact of ageing on welfare and society and the multiple domains in which its effects may develop. Pensions: More Information, Less Ideology builds on the existing evidence - mostly in the field of public pensions - and highlights the advantages that would be obtained by: harmonising methodologies used in the various countries to report pension outlays and forecast future pension liabilities or more generally public spending; defining common standards as to the frequency of expenditure forecasts and the length of the forecast horizons for welfare expenditures; developing European longitudinal survey of persons pre- and post retirement age, providing timely information on a wide array of decisions by individuals and household related to the ageing process and the ongoing trends.
Download or read book Sustainability of Pension Systems in the New EU Member States and Croatia written by Leszek Kasek and published by World Bank Publications. This book was released on 2008-02-01 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study finds that pension reforms in recent years have improved the efficiency and sustainability of pension systems in the new member states of the European Union and Croatia. However, for many countries, these probably have not gone far enough to ensure long-term sustainability, given the aging of the population. Reforms have included changes to Pay-As-You-Go (PAYG) systems, including increases in retirement ages (not at least for women), new benefit formulas, and new indexation mechanism. Some countries (Latvia and Poland) have further strengthened the link of contributions and benefits to the sustainability of the PAYG system through the introduction of national defined contribution accounts. The link is strengthened also by moving to a point system, which has been adopted by many of the countries. Several countries have introduced a second, private, pension pillar, funded through diversion of part of the pension contributions, thereby diversifying risk. However, some countries (in particular the Czech Republic, Slovenia, and Romania) will need to do more to safeguard the long-term viability of their pension systems, while others face challenges to ensure equitable pension systems and adequate living standards for all elderly people.
Download or read book Pensions written by Sinéad Agnew and published by Bloomsbury Publishing. This book was released on 2020-08-20 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: State pensions are the largest item in the UK social security budget, costing £96.7 billion in 2017/18. In the same year, 45.6 million people were members of UK occupational pension schemes (out of a total population of 66.4 million) and the total amount saved into workplace schemes in 2018 was £90.4 billion. A consequence of the pensions sector's large size has been that pensions law and social security law have become increasingly specialised areas of practice. Yet despite their social and economic importance and the fascinating legal issues they generate, pensions have not been the subject of sustained academic attention. This book starts to fill this gap by initiating a dialogue between practitioners and scholars working on pensions law and policy, groups who have much to learn from one another.
Download or read book How to make European pensions adequate and sustainable written by Juraj Draxler and published by CEPS. This book was released on 2009 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents the results of the research project on Adequacy and Sustainability of Old Age Income in the EU (AIM). Examines the differences among EU member States when it comes to saving for retirement. Suggests that while in some countries the working age population is able to sustain their consumption on retirement, in others there ia a significant saving gap.
Download or read book Joint Report on Pensions written by and published by . This book was released on 2010 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recoge: 1. An introduction to pensions reform- 2. A decade in pension reform in the EU - 3. The impact of the crisis - 4. Policy challenges over the long-term - 5. Policy implications.
Download or read book Towards Adequate Sustainable and Safe European Pension Systems written by Comisión Europea (Bruselas, Bélgica). Dirección General para Mercado Interno y Servicios and published by . This book was released on 2010 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Commission's Green Paper "Towards adequate, sustainable and safe European pension systems" invites interested parties to submit their views on future pension provision and how the EU can best support national-level efforts. The Paper reviews the current EU pensions framework and goes on to set out the main challenges to providing adequate, sustainable and safe pensions and the priorities for modernising pension policy in the EU. It also looks at the need to improve both pension data collection and EU-level governance of pension policy. Finally, the Paper provides information on how to contribute to the consultation, as well as a glossary of terms and detailed statistical annex. (EU Bookshop).
Download or read book Comment on the European Commission s green Paper Towards Adequate Sustainable and Safe European Pension Systems written by Conny Olovsson and published by . This book was released on 2011 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Europe's population live longer live and the workforce's share of the population is shrinking. This constitutes a big challenge for the EU's Member States and within the EU there is now a debate on future European pension systems. This analysis discusses the issue against the background of the European Commissions "Green Paper" on how to design secure systems that are possible to finance. The report is part of the research project Social Europe and was presented at the seminar Almedalen 6 juli--Vad händer med Europas pensionssystem?"--Publisher's description.
Download or read book So Pensions in Europe Will Remain Sustainable But Will They Remain Adequate An Assessment of the Consequences of the AWG Projections on the Adequacy of Social Security Pensions in Belgium Italy and Germany written by Hermann Buslei and published by . This book was released on 2014 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: We stress that the demographic changes that Europe will face in the coming decades will have profound consequences not only for the sustainability but also for the adequacy of social security schemes, including pensions. Our paper aims at assessing the consequences of the Ageing Working Group projections on the adequacy of social security pensions. We use a microsimulation model and examine three countries: Belgium, Germany and Italy. Adequacy is assessed on the basis of the replacement rate, the redistributive impact of pensions and the different risks of poverty. Pension beneficiaries are compared to wage-earners. The replacement rate will follow different patterns: in Belgium and Germany it will decline until the beginning of the 2030s and recover later, in Italy it will show a continuous decrease. In all three countries income inequality declines from the working age to the retirement age and the risk of poverty among pensioners first increases and then decreases. The pension reforms implemented in the three countries have similar effects on income redistribution and poverty levels; these effects are particularly strong in Italy.
Download or read book A Pan European Pension Product written by and published by . This book was released on 2017 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: Faced with ageing populations, most EU Member States have taken measures to reform their public pension systems with a view to preserving the sustainability of their public finances. Although considerable progress has been made, many Member States will need to do more still given the long-term trends they are facing. In simple terms, the choice boils down to accepting either a further increase in retirement ages or reduced levels of public pension schemes’ provision. In the latter case, voluntary private pension products can play a central role in helping pensioners to maintain an adequate level of income. However, too many Europeans are still channelling their savings into bank deposits rather than supplementary pension schemes, despite lower returns. This situation, which leads to an under-supply of long-term capital for investing in productive activities necessary to support sustainable economic growth, results from a number of supply and demand-side constraints that could be addressed through the creation of an effective European internal market for voluntary private pension products. This would both help pensioners to maximise their savings, while also supporting the long-term growth of the economy.
Download or read book Green Paper Towards Adequate Sustainable and Safe European Pension Systems written by and published by . This book was released on 2010 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pension Reforms in the EU Since the Early 2000 s written by and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Most EU Member States have carried out substantial pension reforms over the last decades in order to enhance fiscal sustainability, while maintaining adequate pension income. The intensity of pension reforms has been particularly strong since 2000. These reforms have been implemented through a wide range of measures that have substantially modified the pension system rules and parameters. One of the most important elements of pension reforms, aside of whether countries engaged or not in a systemic change, has been the introduction of mechanisms aimed at automatically adjusting (indexing) the key pension parameters (pension age, benefits, financing resources) to demographic pressure (e.g. changes in life expectancy, increase in the dependency ratio). Indeed, since the mid- 1990's, half of the EU Member States have adopted either automatic balancing mechanisms, sustainability factors and / or automatic links between retirement age and life expectancy. All these pension reforms are projected to have a substantial impact on containing future pension expenditure trends. According to the latest long-term projections in the 2015 Ageing Report, public pension expenditure is projected to be close to 11% of GDP over the long run in the EU, almost the same as in 2013. However, the fiscal impact of ageing is still projected to be substantial in many EU countries, becoming apparent already over the course of the next two decades. This is also due to the very gradual phasing in of already legislated reforms, an issue that raises questions about the intergenerational fairness of the reforms and poses some doubt on the time-consistency of their implementation. Indeed, the sustainability-enhancing pension reforms legislated in a majority of EU countries will lead to a reduction of generosity of public pension schemes for future generations of retirees. But to make sure that these reforms will not have to face political and social resistance and risk of reversal in the moment they start to be implemented in full, other "flanking" policy measures are likely to be necessary: for example, reforms that boost retirement incomes by effectively extending working lives and employability of older workers (also through flexible working arrangements that allow people to keep working beyond current formal retirement age and to step down gradually from full-time to part-time to very part-time work) and provide other means of retirement incomes (e.g. private pensions) and appropriate social safety nets to avoid that people fall into poverty in old age.
Download or read book Adequate and Sustainable Pensions written by European Commission and published by . This book was released on 2003 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Agenda for Adequate Safe and Sustainable Pensions written by European Commission and published by . This book was released on 2012 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Joint Report by the Commission and the Council on Adequate and Sustainable Pensions written by Commission of the European Communities and published by . This book was released on 2002 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Assessing Chile s Pension System Challenges and Reform Options written by Samuel Pienknagura and published by International Monetary Fund. This book was released on 2021-09-10 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.
