## Pension Reforms in Europe: How Far Have We Come and Gone?

_Departmental Papers, September 10, 2021_

## Source details

**Canonical URL:** [Pension Reforms in Europe: How Far Have We Come and Gone?](https://www.imf.org/en/publications/departmental-papers-policy-papers/issues/2021/09/10/pension-reforms-in-europe-464651)

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## Bibliographic details
- Authors: Armand P Fouejieu, Alvar Kangur, Mauricio Soto
- Published: September 10, 2021
- Series: Departmental Papers
- DOI: https://doi.org/10.5089/9781513593920.087

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### Authors and publication
- By Armand P Fouejieu, Alvar Kangur, Mauricio Soto
- September 10, 2021
- Departmental Papers 2021, 016 (2021)
- DOI: https://doi.org/10.5089/9781513593920.087
- Pages: 93
- Volume: 2021
- Issue: 016
- Series: Departmental Paper No 2021/016
- Stock No: PREHFWCGEA
- ISBN: 9781513593920
- ISSN: 2616-5333

### Executive summary
- The paper assesses how reforms over the past few decades have changed the provision of retirement income by public pensions across Europe.
- It takes stock of current pension system characteristics and evaluates long-term implications for sustainability, fairness, and intergenerational equity.
- The authors introduce a novel metric—the Proportionality Measure—to evaluate the balance between lifetime benefits and contributions.

### Proportionality Measure (novel metric)
- Designed to measure the balance between lifetime benefits and contributions.
- Used to examine pension systems’:
  - Long-term sustainability
  - Fairness
  - Intergenerational equity

### Key themes and focus areas
- Aging
- Expenditure
- Fiscal policy
- Labor
- Pension reform
- Pension spending
- Pensions
- Political economy
- Population and demographics
- Retirement

### Keywords (as listed)
- 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

### Notable metadata extracted from the page
- Preview citation format (Chicago): Armand P Fouejieu, Alvar Kangur, and Mauricio Soto. "Pension Reforms in Europe: How Far Have We Come and Gone?", Departmental Papers 2021, 016 (2021), accessed 9/15/2026, https://doi.org/10.5089/9781513593920.087.

*Source: https://www.imf.org/en/publications/departmental-papers-policy-papers/issues/2021/09/10/pension-reforms-in-europe-464651*

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_Source: https://www.imf.org/en/publications/departmental-papers-policy-papers/issues/2021/09/10/pension-reforms-in-europe-464651_