The Public Pension Systems and the Economic Crisis

Borja Encinas-Goenechea (), Robert Meneu-Gaya () and María Cruz del Río-Rama ()
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Borja Encinas-Goenechea: University of Extremadura
Robert Meneu-Gaya: University of Valencia
María Cruz del Río-Rama: University of Vigo

Chapter Chapter 3 in Economic Challenges of Pension Systems, 2020, pp 57-80 from Springer

Abstract: Abstract Concern about the long-term sustainability of European public pension systems has been a permanent feature for decades due to the unstoppable ageing of the population, but demographic change is not the only factor of concern. A deep economic and financial crisis has been added to this structural problem, whose impact on economic growth and job creation has further aggravated the situation. The combination of these two challenges has created a “perfect storm”, which is forcing most European countries to introduce far-reaching reforms in their pension systems with the aim of ensuring their sustainability. This chapter analyses the main measures that the different EU-28 countries have addressed since the beginning of the crisis to ensure the sustainability of their pensions. The wide range of measures taken include delaying the retirement age and introducing sustainability factors and automatic adjustment mechanisms.

Keywords: Economic crisis; Demographic ageing; Pension reform; Sustainability (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-37912-4_3

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DOI: 10.1007/978-3-030-37912-4_3

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