Description
Book SynopsisPresenting the evolution of supplementary pensions over the past 25 years, this comprehensive book introduces the origin of pensions as a concept and explores the role that international organisations play within the field. It draws comparisons between different welfare states, reflecting upon current research and identifying new directions and ideas.
Despite observing significant differences in the approaches to pension design, the book identifies common challenges, including the need to provide for an increasingly aging population, slow economic growth following the 2008 global financial crisis, the need for effective regulation, and increased labour market flexibility. Leading scholars analyse the experiences of a broad range of countries and offer insights into their responses to the numerous challenges faced by national pension systems. The book covers significant moments in pensions history following the World Bank’s 1994 report on Averting the Old Age Crisis, and subsequent responses to challenges posed by longevity and economic crises.
This book will be an ideal companion for academic researchers and financial law scholars interested in pensions and looking to develop an international perspective on the issue, as well as professionals in the pensions industry who are engaging with other countries and looking to develop their knowledge of overseas pension systems.
Trade Review’An excellent book that summarizes 25 years of supplemental pension reforms in 15 OECD countries. Several chapters focus on important analytical issues, such as the role of international organizations in promoting change and how social reforms may win and maintain popular trust.’ -- Mitchell A Orenstein, University of Pennsylvania, US
‘The expertise and deep insights of the 30 contributors covering more than 25 years of pensions policy development and implementation in 15 countries make this a book that anyone making or scrutinising pensions policy, legislating for it, regulating it or researching it should have in their library. The insights in the book will help the reader identify the many pitfalls to avoid, the many risks to manage and to consider how to build resilience into pension systems.’ -- Philip Bennett, Durham Law School, UK
Table of ContentsContents: Preface ix 1 Introduction 1 James Kolaczkowski, Yves Stevens and Jakob Markus Werbrouck 2 On the origin of pensions 10 Yves Stevens 3 The role of international organizations in the last 25 years and their effect on pension reforms throughout the world 37 Paul Roels 4 Belgium: 25 years of occupational pension schemes for employees in Belgium from a legal perspective 62 Emma Suzanne van Aggelen and Jakob Markus Werbrouck 5 Finland: Pension reforms in Finland 77 Susan Kuivalainen and Kati Kuitto 6 France: A national overview 99 Arnauld D’Yvoire 7 Germany: About unpopular but necessary reforms 122 Heinz-Dietrich Steinmeyer 8 Greece: Α perpetual struggle against the sovereignty of public pension regimes 138 Gabriel Amitsis 9 Ireland: Talking about change – Pension reform in Ireland 1994–2019 164 Michelle Maher 10 Italy: The Italian pension system – reform trajectories and open issues 182 Felice Roberto Pizzuti and Michele Raitano 11 The Netherlands: Pensions in the Netherlands – from defined benefit to defined contribution 207 Erik Lutjens 12 Poland: A preliminary assessment 229 Marek Szczepański, Joanna Ratajczak, Kamila Bielawska, Joanna Rutecka-Góra and Sylwia Pieńkowska-Kamieniecka 13 The development of supplementary pensions in Portugal: Influenced by ideas, the process of European integration and national idiosyncrasies 257 Maria Clara Murteira 14 Spain: The evolution of the Spanish private pension system: 1994–2019 279 Inmaculada Domínguez Fabián and John A. Turner 15 Sweden: (Supplementary) pensions 1994–2019 305 Eskil Wadensjö 16 Switzerland: 25 years of occupational pension provision (1995–2020) 320 Jacques-André Schneider 17 The United Kingdom: Political and labour market influences 348 Bryn Davies and James Kolaczkowski 18 The United States: The evolution of the US pension system – 1994–2019 370 Jonathan Barry Forman, Dana M. Muir and John A. Turner 19 Pensions and the paradox of Trust: Developments over the past 25 years 392 Kamila Bielawska, Sally Shen and John A. Turner 20 Changes in approach to risk sharing in supplementary pension schemes 410 Anna Gierusz, Patrycja Kowalczyk-Rólczyńska, Agnieszka Pobłocka and Joanna Rutecka-Góra 21 Editors’ view and conclusion 439 James Kolaczkowski, Yves Stevens and Jakob Markus Werbrouck Index
