Click here to skip to content

Welfare Reform on the Web (October 2007): Pensions - overseas

Biting the funding bullet

C. von Schenk

Life & Pensions, Sept. 2007, p. 34-38

Interesting article examining how the German government is trying to address its growing pension liabilities to its public sector workforce. There are clear parallels with the UK. Includes detailed tables showing pensions liabilities for Germany's federal and regional governments and how they have increased since 2003.

Pension reforms in Europe and life-course politics

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

Social Policy and Adminsitration, vol. 41, 2007, p. 487-504

Pension systems developed in Europe after 1945 were underpinned by the assumption that, after completing their education, men would enter paid work and women would assume a variety of unpaid caring responsibilities. At a certain age, men would retire from work and women's caring responsibilities would be reduced. Current pension reforms can be best explained as responses to a new model of the life course. The new model assumes that women will combine care and paid work and that all citizens may have to re-enter education at some point to update their skills. 'Jobs for life' will cease to be the norm, and will be replaced by short-term contracts and more part-time working. All citizens will be expected to work longer and to make their own provision for retirement through saving.

Public pension management: issues and trends

J.D. Coggburn and C.G. Reddick

International Journal of Public Administration, vol.30, 2007, p. 995-1020

Expenditure on human resources, including salaries, pensions, leave and training and development costs, account for the lion's share of government budgets. Success or failure in pension scheme management has a direct impact on the well-being of taxpayers, governments, employees and retirees. This article considers the management issues faced by US public sector pension schemes, focusing on both investments and benefits. It concludes with a discussion of the importance of public pension management for meeting governmental commitments and for ensuring the overall financial health of jurisdictions.

Retirement provision in scary markets

H. Bateman (editor)

Cheltenham: Elgar, 2007

The past few decades have witnessed a global move towards private provision for retirement through individual defined contribution pensions, at the expense of publicly provided and employer-sponsored defined benefit pensions. As a consequence, workers and retirees are becoming increasingly exposed to uncertainties in financial, labour and economic markets. The book analyses the implications for retirement income policy, workers and retirees in view of the current climate of heightened exposure to scary markets. The implications of a broad range of scary market scenarios are presented, and novel solutions prescribed. Retirement incomes across a number of countries including the US, the UK, Japan and Australia are explored and uncertainties examined include:

  • Extreme stock price volatility,
  • Discontinuous labour market participation,
  • Regulatory failure and macroeconomic instability
Search Welfare Reform on the Web