Chapter

Perspectives on Pensions in Eastern Europe

Katharina Müller

in Britain's Pensions Crisis

Published by British Academy

Published in print October 2006 | ISBN: 9780197263853
Published online February 2012 | e-ISBN: 9780191734281 | DOI: http://dx.doi.org/10.5871/bacad/9780197263853.003.0015

Series: British Academy Occasional Papers

Perspectives on Pensions in Eastern Europe

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The dramatic political and economic changes witnessed by Central and Eastern Europe (CEE) and the Former Soviet Union (FSU) since the late 1980s did not leave the area of old-age security unaffected. While the inherited pension systems were rather uniform, the past seventeen years have brought diversity to the region's retirement schemes. Most transition countries have opted for parametric reforms, thus changing key characteristics of their pre-existing pay-as-you-go schemes. A number of countries in the region have embarked on partial or full pension privatization, thereby following the much advertised Latin American role models. Moreover, some countries have introduced national defined-contribution plans, similar to the schemes of Sweden and Italy. Overall, contributory approaches to old-age security — whether publicly or privately organized — dominate the post-socialist pension reform agenda. This chapter outlines the pre-1989 legacy in old-age security and the impact of transformation on the existing retirement schemes. It reviews pension reforms in CEE and the FSU and evaluates the state of pension reform in the post-socialist world.

Keywords: Central and Eastern Europe; Former Soviet Union; pensions; pension reforms; old-age security; retirement; national defined-contribution plans

Chapter.  6925 words. 

Subjects: Political Theory

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