Chapter

Pension systems and the challenge of population ageing: what does the public think?

Dina Frommert, Dirk Hofäcker, Thorsten Heien and Hans-Jürgen Andreß

in Valuing older people

Published by Policy Press

Published in print July 2009 | ISBN: 9781847422927
Published online March 2012 | e-ISBN: 9781447304173 | DOI: http://dx.doi.org/10.1332/policypress/9781847422927.003.0009
Pension systems and the challenge of population ageing: what does the public think?

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The increasing old-age dependency ratio produces a major financial challenge for pension systems, and this development may place an unsustainable financial burden on the active population, adversely affecting Europe's economic growth. The future sustainability of pension systems in Europe is not endangered by demographic ageing alone. Most western industrialised countries have experienced augmented withdrawal of older workers from the labour market, thereby sustaining the financial pressure on contemporary pension systems. This chapter illustrates in detail possible policy solutions for reform. It illustrates how European welfare states have adjusted their pension systems very differently to the growing imbalance between contributors and recipients. While debate about pension privatisation is increasingly dominating public discourse, there remains large cross-national variation in Europe regarding the actual existence and extent of non-public pension components. Significant cross-country differences also exist regarding the extent to which European countries have been (and still are) affected by (structural) unemployment.

Keywords: pension systems; financial burden; Europe; demographic ageing; labour market; industrialised countries

Chapter.  8507 words.  Illustrated.

Subjects: Gerontology and Ageing

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