Pension Reforms in Europe: How Far Have We Come and Gone?
September 10, 2021
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Summary
In the past few decades, a myriad of reforms in Europe have had a significant impact on the way and extent to which public pensions provide retirement income. This departmental paper takes stock of where European pension systems stand and assesses their key characteristics. We present a novel measure of the balance between lifetime benefits and contributions—the Proportionality Measure—to examine pension systems’ long-term sustainability, fairness, and intergenerational equity
Subject: Aging, Expenditure, Fiscal policy, Labor, Pension reform, Pension spending, Pensions, Political economy, Population and demographics, Retirement
Keywords: Aging, Europe, IMF library, intergenerational fairness, internal rate of return, lifetime benefit, pension adequacy, Pension and social policy, Pension reform, Pension spending, pension system, Pensions, poverty rate, Retirement, sustainability
Pages:
93
Volume:
2021
DOI:
Issue:
016
Series:
Departmental Paper No 2021/016
Stock No:
PREHFWCGEA
ISBN:
9781513593920
ISSN:
2616-5333
