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From the Replacement Rate to the Synthetic Indicator: A Global and Gender Measure of Pension Adequacy in the European Union

Juan-José Alonso-Fernandez, Robert Meneu-Gaya, Enrique Devesa-Carpio, Mar Devesa-Carpio, Inmaculada Dominguez-Fabian () and Borja Encinas-Goenechea
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Juan-José Alonso-Fernandez: Universidad de Extremadura
Robert Meneu-Gaya: University of Valencia
Enrique Devesa-Carpio: University of Valencia
Mar Devesa-Carpio: University of Valencia
Inmaculada Dominguez-Fabian: University of Extremadura
Borja Encinas-Goenechea: University of Extremadura

Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, 2018, vol. 138, issue 1, No 8, 165-186

Abstract: Abstract To measure the adequacy of pension systems in the world, one of the most commonly used indicators is the Replacement Rate. Our work is based on the statement that this indicator is imperfect itself to measure adequacy because it does not collect the multiple dimensions that it involves while being a static measurement. Consequently and based on the data provided by “The 2015 Pension Adequacy Report: current and future income adequacy in old age in the European Union” of the European Commission, in this paper we select a set of variables that are considered representative to measure the adequacy of pension systems from a dynamic and multidimensional perspective, and based on them, a synthetic adequacy indicator is developed. This indicator aims to compare European pension systems from the adequacy objective and to carry out continuous monitoring of the effects that the reform processes may have on the adequacy of pensions. The analysis is completed with the calculation of a gender indicator on pension adequacy for the European Union (EU-28) which identifies the still existing gap between men and women.

Keywords: Replacement rate; Synthetic indicator; Adequacy; Pensions; Gender gap (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1007/s11205-017-1653-x

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