Click here to skip to content

Welfare reform on the Web (October 2006): Pensions - Overseas

Individual responsibility for the adequacy of retirement income

M.T.M. Garcia

Pensions, vol.11, 2006, p.192-199

Population ageing is threatening the financial sustainability of social security systems in many industrial countries. These are responding by encouraging individuals to take responsibility for saving for their retirement. This paper analyses constraints on individuals’ capacity to provide for themselves in retirement in the absence of adequate financial education for savers and regulation of providers. It goes on to describe the introduction of personal pension savings plans in Portugal.

New views on the sustainability of pension schemes in the EU

J. Mortensen

Pensions International, issue 83, 2006, p.6-9

In the Spring of 2006 the European Commission released a new set of projections of the budgetary costs of population ageing. In addition to a revision of the projections last made in 2001, new projections have been prepared for the ten new member states, allowing a complete assessment of the outlook for public spending on pensions, health and long term care for older people for all 25 member countries. The projections now include estimates of the potential savings on public spending on education (due to fewer children and young people) and unemployment benefit (due to the assumption of higher employment rates in all cohorts).

Policies to encourage older people to remain in the workforce

A.H. Munnell and R. Lluberas

Pensions, vol.11, 2006, p.165-173

If older people in developed countries continue to retire in their early sixties, many will not have accumulated enough resources to ensure a secure retirement. In the light of the dramatic increase in life expectancy, continued employment in later life appears to be a promising option for ensuring financial security in old age. This demographic shift may impact adversely on employers as well. They will no longer be able to rely on a steady supply of younger workers. Expanding the use of women and immigrants may not be enough to fill all the vacant jobs. Increased employment of older workers may thus be in the interests of both workers and employers.

Shifting the pension mix: consequences for Dutch and Danish women

P. Frericks, R. Maier and W. de Graaf

Social Policy and Administration, vol.40, 2006, p.475-492

All European countries aim to reform their pension systems so that entitlements are built up through basic state, occupational and private schemes. Denmark and the Netherlands already have a well-developed basic state pension based on residency combined with occupational and private schemes. This article demonstrates how the pension system in both countries disadvantages women, especially mothers, who have taken time out of paid work to fulfil caring responsibilities and so have not been able to build up substantial occupational pension entitlements.

Women’s welfare and social security privatization in Mexico

M. Dion

Social Politics, vol.13, 2006, p.400-426

In 1995 Mexico privatised its state retirement pension system, including a shift from a defined benefit to a defined contribution model based on privately administered individual accounts. This article uses feminist criteria to evaluate the gender impact of the reforms, and concludes that the Mexican pension privatisation will have a negative effect on women’s welfare in old age.

Search Welfare Reform on the Web