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Author : Martin Schludi
Publisher : Amsterdam University Press
Page : 312 pages
File Size : 44,8 Mb
Release : 2005
Category : Business & Economics
ISBN : 9789053567401
Offers an analysis of the political process involved in the reform of the pension systems in European countries.
Author : Eugen Stumpf,Benedito De Almeida Carvalho,Marco Honsberg
Publisher : GRIN Verlag
Page : 53 pages
File Size : 43,8 Mb
Release : 2011-11
Category : Political Science
ISBN : 9783656049463
Research Paper (undergraduate) from the year 2011 in the subject Politics - Political Systems - Germany, grade: 1,0, University of applied sciences, Düsseldorf, course: Economics - MBA, Master of Business Administration, language: English, abstract: This paper surveys the situation of the German pension system after a sequence of reforms which started as a fully funded system implemented by Bismarck during the 1880s, with a mandatory retirement age of 70 years when male life expectancy at birth was less than 45 years. Today, life expectancy for men is more than 80 years. After a long and arduous debate in the German Bundestag, agreements on a comprehensive pension reform resulted in the pension reform of 1957, which mainly established changes such as the normal retirement age at 65, the retirement at the age of 60 for elderly unemployed, the retirement for women at the age of 60 and, at last, the introduction of dynamic benefits indexed to gross wages which had an immediate impact on the economic wellness of current retirees. Thereafter, the 1972 reform made the German pension system one of the most generous of the world, as it mainly opened the public pension insurance system to all workers with generous terms for back-payment of contributions and eased the terms and conditions for early retirement by the implementation of the so-called 'flexible retirement', as discussed in chapter 1 of this paper. The following pension reforms discussed in this paper are the "Riester reform" of 2001 with the following main objectives: the sustainability of contribution rates in order to secure the long-term stability of pension levels and the spread of supplementary private pension savings, and continuing with the efforts of the Rürup commission which culminated in the "Rürup reform" of 2004 which the objective to stabilize contribution rates while at the same time ensuring appropriate future pension levels. Based on the above, it can be concluded that on the whole the sequence o
Author : Christina Benita Wilke
Publisher : Peter Lang
Page : 216 pages
File Size : 44,6 Mb
Release : 2009
Category : Business & Economics
ISBN : 3631588518
The German pension system was the first formal pension system in the world, designed by Bismarck nearly 120 years ago. It has been very successful in providing high and reliable pension levels at reasonable contribution rates. While the generosity of the German pension system is considered a great social achievement, negative incentive effects of past reforms in the 1970s and 1980s and population aging are threatening the very core of the system. This has led to fundamental pension reforms since 1992. Based on a detailed simulation model of the German pension system, this book provides a thorough assessment of the system and its reforms. It shows that the latest reforms have put the system back onto a stable path and moved it from the old monolithic towards a multi-pillar system.
Author : Giuliano Bonoli,Toshimitsu Shinkawa
Publisher : Edward Elgar Publishing
Page : 292 pages
File Size : 43,6 Mb
Release : 2006-01-01
Category : Social Science
ISBN : 9781845423377
This is an admirable example of a multi-authored comparative book. The two editors set the scene very carefully in the opening chapter and the subsequent chapters follow the framework set out and use the concepts explored there. In this never simple policy area, national systems are explained as clearly as possible by each author. Michael Hill, Journal of Social Policy This is an enlightening introduction to the global dimensions and complexity of pension reform. Recommended. J.F. O Connell, Choice Population ageing and the resulting pressures on existing pension systems constitutes one of the most important challenges modern societies will have to face over the coming decades. Although governments have responded to such pressures by adopting a plethora of pension reforms, the adaptation process is far from over. This book comprehensively documents developments in pension policy in eleven advanced industrial countries in Western Europe, East Asia and North America. In order to explore what population ageing means for the sustainability of pension systems, the authors present a detailed review of pension policy making over the past two decades and provide up-to-date analysis of current pension legislation. They examine the factors that can facilitate or impede the adaptation of pension systems and the features that shape and determine reforms. They also highlight the fact that although the path of reform taken by each country is somewhat different, the processes at work are often very similar. Ageing populations throughout the world are extremely reluctant to see their pension systems dismantled and are therefore prepared to mobilise in their defence. This process of mobilisation interacts with demographic pressures and institutional constraints to help determine the future direction of pension policy. The breadth of geographic coverage provides an almost global picture of the impact of ageing on pension reform, at least in terms of high income countries. Academics and students with an interest in economics, social policy, sociology and political science will find this a worthwhile and rewarding volume. It will also be of value to policymakers interested in how the problem of unsustainable pension systems can be resolved.
Author : Giuliano Bonoli
Publisher : Cambridge University Press
Page : 202 pages
File Size : 47,7 Mb
Release : 2000-09-14
Category : Business & Economics
ISBN : 0521776066
A comparative study of European countries' efforts to reform pension systems in the context of ageing populations.
Author : Camila Arza,Martin Kohli
Publisher : Routledge
Page : 238 pages
File Size : 50,5 Mb
Release : 2007-08-07
Category : Business & Economics
ISBN : 9781134134373
Introduction : the political economy of pension reform / by Camila Arza and Martin Kohli -- The "new politics" of pension reforms in Continental Europe / by David Natali and Martin Rhodes -- Between conflict and consensus : The reform of Bismarckian pension regimes / by Martin Schludi -- How do politicians get away with path-breaking pension reforms? : the political psychology of pension reform in democracies / by Einar Overbye -- The politics and outcomes of three-pillar pension reforms in Central and Eastern Europe / by Katharina Muller -- Changing European welfare : A new distribution pattern of pension policy? / by Camila Arza -- The interdependence of the system of solidarity and the system of equivalence / by Martin Rein and Karen Anderson -- The Anglo-American pension regime : failures of the divided welfare state / by Robin Blackburn -- The gender pension gap : effects of norms and reform policies / by Patricia Frericks and Robert Maier -- Generational equity : concepts and attitudes / by Martin Kohli.
Author : Katharina Müller
Publisher : Edward Elgar Publishing
Page : 248 pages
File Size : 48,9 Mb
Release : 1999
Category : Business & Economics
ISBN : STANFORD:36105024921095
This volume contains the findings of the research project "Institutional Change in Social Security: Pension Reforms in Poland, Hungary and the Czech Republic," which was completed in early 1999. Muller, a research fellow with the Frankfurt Institute for Transformation Studies at the European University Viadrina, examines the partial privatization path that Poland and Hungary chose, and compares their Latin American-styled methods to those of the Czech Republic (which fall well within the boundaries of the Bismarckian-Beveridgean pension traditions). In particular, she looks at which structural-institutional and actor-related factors account for radial pension reform. Annotation copyrighted by Book News, Inc., Portland, OR
Author : Einar Overbye
Publisher : Routledge
Page : 256 pages
File Size : 43,6 Mb
Release : 2017-11-28
Category : Business & Economics
ISBN : 9781351151795
Throughout the developed world, public and private pension schemes face major challenges that are creating irresistible pressures for reform. Major structural changes in Latin America and in Central and Eastern Europe have led to particularly fierce pressure. Two member states of the European Union - Italy and Sweden - have introduced radical reform of their public pensions systems; controversial pension reforms have been proposed in France and Germany; and the British government has been widely criticized over its pension reforms and its 2002 white paper. This exceptional volume examines the challenges faced by pension schemes in the advanced economies and the reforms that have been introduced to tackle these challenges. A team of international contributors provides an up-to-date, invaluable analysis of different aspects of pension problems, prospects and reforms. The book incorporates cross-national chapters as well as a focus on individual countries including Belgium, Brazil, Colombia, Finland, Greece, Italy, Sweden, the UK and the USA.
Author : Nicholas Barr,Peter Diamond
Publisher : Oxford University Press
Page : 264 pages
File Size : 54,6 Mb
Release : 2009-11-30
Category : Business & Economics
ISBN : 0199741972
Mandatory pensions are a worldwide phenomenon. However, with fixed contribution rates, monthly benefits, and retirement ages, pension systems are not consistent with three long-run trends: declining mortality, declining fertility, and earlier retirement. Many systems need reform. This book gives an extensive nontechnical explanation of the economics of pension design. The theoretical arguments have three elements: * Pension systems have multiple objectives--consumption smoothing, insurance, poverty relief, and redistribution. Good policy needs to bear them all in mind. * Good analysis should be framed in a second-best context-- simple economic models are a bad guide to policy design in a world with imperfect information and decision-making, incomplete markets and taxation. * Any choice of pension system has risk-sharing and distributional consequences, which the book recognizes explicitly. Barr and Diamond's analysis includes labor markets, capital markets, risk sharing, and gender and family, with comparison of PAYG and funded systems, recognizing that the suitable level of funding differs by country. Alongside the economic principles of good design, policy must also take account of a country's capacity to implement the system. Thus the theoretical analysis is complemented by discussion of implementation, and of experiences, both good and bad, in many countries, with particular attention to Chile and China.
Author : Kolaczkowski, James,Maher, Michelle,Stevens, Yves,Werbrouck, Jakob M.
Publisher : Edward Elgar Publishing
Page : 488 pages
File Size : 44,9 Mb
Release : 2022-01-18
Category : Law
ISBN : 9781800372986
Presenting the evolution of supplementary pensions over the past 25 years, this comprehensive book introduces the origin of pensions as a concept and explores the role that international organisations play within the field. It draws comparisons between different welfare states, reflecting upon current research and identifying new directions and ideas.
Author : Christoph Henseleit,Verena Rosauer
Publisher : GRIN Verlag
Page : 35 pages
File Size : 43,6 Mb
Release : 2004-04-24
Category : Business & Economics
ISBN : 9783638271066
Seminar paper from the year 2004 in the subject Economics - Finance, grade: 1,0 (A), Technical University of Darmstadt (Institute for Finance and Economic Policy), language: English, abstract: Traditional pension systems continue facing major problems regarding their sustainability. Significant demographic changes in modern societies and antiquated attributes of pension systems result in increasing deficits in public budgets. Various proposals, trying to reform traditional pension systems via conservative reforms, failed to fix the emerging problems. This paper explores substantial opportunities to reform persisting pension systems structurally. By considering different theoretical approaches of reforms and actual implementations of structural pension reforms in practice, advantageous alternatives of designing pension schemes shall be assessed. Furthermore, the authors aim at stimulating discussions about structural pension reforms by introducing a profound reform proposal. Numerous debates and ideas, concerning the pensions system and its reforms, have arisen during the last ten to 20 years all over the world. Moreover, in 1994, the World Bank published a book “Averting the Old Age Crisis: Policies to Protect the Old and Promote Growth”. The diagnosis of this book, summarized by Michael Bruno, was that “systems providing financial security for the old are under increasing strain throughout the world”1. “As long as the number of retirees does not grow faster than total earnings of employees [in the current system], the tax receipts can continue to pay the benefits of retirees”2. But because of important changes in the demographic situation and mis-constructions in present systems, this condition does not hold true anymore: first, the birth rate in most countries of the Organization for Economic Co-operation and Development (OECD) decreases continuously. Thus the number of young employees decreases, too. Second, the people, born in the time of the baby boom (after World War II, the so-called “baby boomers”), will retire during the next decade. Additionally, due to the progress in medicine and high living standards, longevity increases. According to a prediction of the World Bank (1998), the portion of people over 60 in OECD-countries will rise from 19.9% in 2000 to 31.2% in 2050. Almost a tripling from 7.3% to 20.7% is expected in Asia within this period3. [...] 1 See Fox/Palmer “New Approaches to Multipillar Pension Systems: What in the World is Going On?”, page 90 2 See Gruber and Wise, “Different Approaches to Pension Reform from an Economic Point of View, page 50 3 See Fox and Palmer, table 3.2
Author : Steven Engels
Publisher : GRIN Verlag
Page : 62 pages
File Size : 54,7 Mb
Release : 2009-10-23
Category : Political Science
ISBN : 9783640456239
Master's Thesis from the year 2009 in the subject Politics - Topic: European Union, grade: 18,5/20, Vrije University Brussel, course: Master Thesis submitted within the Subject of EU Social and Educational Policies, language: English, abstract: This Master Thesis provides a cross-country comparison of the German and Italian pension reform trajectories between 1989 and 2008 against the backdrop of the Open Method of Coordination in the field of old-age social security. Starting from the observation that, at the end of the 1980s, Italy and Germany faced similar challenges related to the long-term financial sustainability of their respective pension system, this study highlights the social implications of the reform strategy adopted in each country. More precisely, the issue of pension reform is approached form a distributive angle, building on the work of both Camila Arza on the new distributional principles of contemporary pension policies and of John Myles on the issue of intergenerational fairness with respect to old-age social security reform. The Italian and German pension reform trajectories are dealt with in separate chapters, focusing on the way in which the subsequent reform packages affected the social distribution of rights, resources and risks associated with old-age as well as on the way in which the costs of the reform are apportioned between generations. The conclusion provides for a comparison between the two reform trajectories studied. It highlights some remarkable similarities at the level of the architectural design of the two pension systems as well as with respect to the introduction of self-adjusting mechanisms within the annuity formula but also stresses the obvious differences between the reform strategies implemented over the last two decades, in particular with regard to the issue of collective burden sharing between generations.
Author : Mr.Benedict J. Clements,Frank Eich,Mr.Sanjeev Gupta
Publisher : International Monetary Fund
Page : 432 pages
File Size : 49,6 Mb
Release : 2014-03-08
Category : Business & Economics
ISBN : 9781616359508
Pension reform is high on the agenda of many advanced and emerging market economies, for many reasons. First, public pensions often constitute a large share of government expenditure. Second, population aging means that reforms would be needed just to keep pension spending from rising in the future. Third, in many economies, low or falling pension coverage will leave large segments of the population without adequate income in old age and at risk of falling into poverty. Although a number of studies have assessed the effects of pension reforms on fiscal sustainability, a systematic analysis of equity issues in pension systems—and how countries have grappled with these issues—has yet to be undertaken. This book brings together the latest research on equity issues related to pension systems and pension reforms in the post-crisis world. Some of the key issues covered include: the effect of pension systems on intergenerational equity and the impact of pension reforms on poverty, the effects of pension reform measures on fiscal sustainability and equity, and the fiscal consequences of achieving different equity goals. It also presents country case studies. The volume provides a rich menu of material to assist policymakers and academic audiences seeking to understand the latest research in this area, as well as the lessons and challenges for the design of reforms.
Author : Bruno Palier,Claude Martin
Publisher : John Wiley & Sons
Page : 176 pages
File Size : 46,7 Mb
Release : 2009-02-18
Category : Political Science
ISBN : 9781444306804
Gathering among the best European specialists of welfare statecomparisons, this book organises comprehensive and up to dateinformation on European welfare state reforms in an analyticalframework which allows a new approach to social policy changes. Demonstrates that, contrary to the common view, 'Bismarckian'welfare states have changed significantly Contains long term but also very accurate data and perspectivebeginning from the 1980s and up to the most recent reforms Speaks to two literatures: the one on welfare state, socialpolicies and welfare state reforms; the other to the politicalscience literature on changes, path dependency and incrementalchanges Organises comprehensive and up to date information on Europeanwelfare state reforms in an analytical framework Includes contributions from the best specialists of the field,including members of the European academic community of socialpolicy comparativists
Author : Robert Fenge,George De Menil,Pierre Pestieau
Publisher : Unknown
Page : 322 pages
File Size : 40,6 Mb
Release : 2008
Category : Business & Economics
ISBN : STANFORD:36105124013025
Demographic realities will soon force developed countries to find ways to pay for longer retirements for more people. In Pension Strategies in Europe and the United States, leading economists analyze topical issues in pension policy, with a focus on raising the retirement age, increasing retirement savings, and the political sustainability of reforms that will accomplish these goals. After a substantive and wide-ranging introduction by the editors that weaves together the demographic and economic strands of the story, the chapters present cutting-edge research, offering both theoretical and empirical analyses. Contributors examine such topics as the reform of key structural features of existing pay-as-you-go (PAYG) pension systems, analyzing how benefits should vary with the age of retirement, labor supply elasticity after France's 1993 pension reform, and fiscal response to a demographic shock; the feasibility of PAYG reforms in the United States and the competition among state pension systems that results from labor mobility in Europe; and private, funded systems (increasingly perceived as necessary adjuncts to PAYG systems) in the UK, the US, and the Netherlands, and in terms of individual portfolio management. The editors conclude the volume with a study of recent German and UK reforms and their effects on personal savings.ContributorsTheodore C. Bergstrom, A. Lans Bovenberg, Antoine Bozio, Woojen Chung, Juan C. Conesa, Gabrielle Demange, Richard Disney, Carl Emmerson, Robert Fenge, Luisa Fuster, Carlos Garriga, Christian Gollier, John L. Hartman, Ayse Imrohoroglu, Selahattin Imrohoroglu, Thijs Knaap, Georges de Ménil, Pierre Pestieau, Eytan Sheshinski, Matthew WakefieldRobert Fenge is Senior Research Fellow at the Ifo Institute for Economic Research and Assistant Professor of Economics at the University of Munich. Georges de Ménil is Professor of Economics at École des Hautes Études en Sciences Sociales (EHESS), Paris. Pierre Pestieau is Professor of Economics at the University of Liège. Fenge and Pestieau are coauthors of Social Security and Early Retirement (MIT Press, 2005).
