Labour Market Flexibility And Pension Reforms

Increasingly flexible labour markets and reforms of old-age pension systems are still ranking high on the political agenda of European countries. This volume investigates whether, and to what extent, the interplay between pension reforms and the spread of 'atypical' employment patterns and fragmented careers has a negative influence uponeconomic security in old age. The volume, therefore, analyzes the flexibility-security nexus by focusing on the post-retirement phase, thus extending the conventional narrow concept of 'flexicurity'. The book also questions whetherreforms of public and private pension schemes compensate or aggravate the risks of increasingly flexible labor markets and atypical employment careers after retirement? Around this overarching research question, the various contributions in the volume employ the same analytical framework in order to map, and then compare, the developments in seven European countries - Denmark, Germany, Italy, the Netherlands, Poland, Switzerland, and the UK which present different labour market arrangements and various degrees of flexibility, as well as diverse pension systems.

Social protection systems and labour markets have undergone major changes in the past two decades. Welfare states are being reformed, scaled back and modernised; labour markets, at the same time, are more precarious, more feminised, more unequal, and throughout the OECD area, older. The interaction between labour markets and social protection has become increasingly crucial to the social and economic policy mix concerning unemployment, the transformation of work, the new poverty, and even demographics. Against this background, an interdisciplinary team of leading labour market and social protection experts from various OECD countries examine the multifaceted aspects of the changing relationship between social protection systems and labour markets. They identify and analyse key emerging issues, such as the link between employment and social protection financing, the adaptation of social protection systems to women's career patterns, and the development of new forms of social protection that aim at promoting employment. With practical policy guides and recommendations using case studies and comparative chapters, this will be engaging reading for policy-makers, social actors and academics alike.

The individual account-based but unfunded approach to mandated public pension systems is a reform benchmark for all pension schemes, promising fair and financially sustainable benefits. Nonfinancial defined contribution (NDC) pension schemes originated in Italy and Sweden in the 1990s, were then adopted by Latvia, Norway, and Poland, envisaged but not implemented in various other countries, such as Egypt and Russia, and remain under discussion in many nations around the world, such as China and France. In its complete form, the approach also comprises budget-financed basic income provisions and mandated or voluntary funded provisions. Volume 1 of this book offers an assessment of countries that were early adopters before addressing key aspects of policy implementation and design review, including how best to combine basic income provisions with an NDC scheme, how to deal with heterogeneity in longevity, and how to adjust NDC scheme design and labor market policies to deliver on reform expectations. Volume 2 addresses a second set of issues, including the gender pension gap and what family policies can do about it within the NDC framework, labor market issues and administrative challenges of NDC schemes and how countries are coping, the role of communication in these pension schemes, the complexity of cross-border pension taxation, and much more. Progress and Challenges of Nonfinancial Defined Contribution Pension Schemes is the third in a series of books analyzing the progress, challenges, and adjustment options of this reform revolution for mandated public pension systems. 'Pension reform is a major issue in many countries. The development of the nonfinancial defined contribution pension plan in the 90's was a major advance in pension design. By reporting actual country experiences and exploring properties of plan designs, this latest collection of essays is a valuable contribution, well worth reading.' Peter Diamond Professor at Massachusetts Institute of Technology; 2010 winner of the Nobel Memorial Prize in Economic Sciences 'A highly stimulating publication for policy makers and researchers alike. It pushes the analytical frontier for policy challenges that all public pension schemes are confronted with but that the nonfinancial defined contribution approach promises to handle best.' Noriyuki Takayama President, Research Institute for Policies on Pension and Aging, Tokyo, and professor emeritus, Hitotsubashi University, Tokyo 'In a changing world where pensions are more than ever linked to labor markets, communication tools, and flexibility considerations, this anthology provides a unique up-to-date analysis of nonfinancial defined contribution pension schemes. By mixing international experiences and theoretical studies, it demonstrates the high adaptability of such pension schemes to changing social challenges.' Pierre Devolder Professor of Finance and Actuarial Sciences, Catholic University of Louvain, Belgium

"Academics and practitioners interested in the pension debate, welfare state, income distribution and institutions will find Pension Reform and Economic Theory of great interest, as will demographers, political scientists and mainstream economists open to dissenting views in economic analysis and interested in understanding the economic foundations of pension reform proposals."--BOOK JACKET.

This new book provides a cross-country comparative analysis of the key issues shaping the latest pension reforms in Europe: political games, welfare models and pathways, population reactions, and observed and expected outcomes. Pension reform has been a top policy priority for European governments in the last decade. Ageing populations, changing labour market patterns and the process of European integration are the ‘irresistible forces’ pushing for reform throughout the region. The Political Economy of Pension Reform evaluates the political forces that make pension reform viable in different national and institutional contexts and the nature of political bargains, actors and cleavages surrounding policy change. The volume also examines the nature and outcomes of pension reform experiences in Europe, searching for a solution to the financial challenge posed by growing pension budgets. By addressing the nature of change, the pathways of reform, and the outcomes of the new pension mix in the region, the authors conclude with an analysis of people’s perceptions and attitudes towards pension policy and their acceptance or otherwise of different reform options. This book will be of interest to students and scholars of international political economy, European politics, and social policy.

Throughout the developed world, public and private pension schemes face major challenges that are creating irresistible pressures for reform. Major structural changes in Latin America and in Central and Eastern Europe have led to particularly fierce pressure. Two member states of the European Union - Italy and Sweden - have introduced radical reform of their public pensions systems; controversial pension reforms have been proposed in France and Germany; and the British government has been widely criticized over its pension reforms and its 2002 white paper. This exceptional volume examines the challenges faced by pension schemes in the advanced economies and the reforms that have been introduced to tackle these challenges. A team of international contributors provides an up-to-date, invaluable analysis of different aspects of pension problems, prospects and reforms. The book incorporates cross-national chapters as well as a focus on individual countries including Belgium, Brazil, Colombia, Finland, Greece, Italy, Sweden, the UK and the USA.

This title was first published in 2000: One of the most significant features to emerge in the world of work during the past decade has been the change from long-term employment, often with one employer, to a pattern of short-term, flexible working arrangements involving short-term contracts, frequent spells of unemployment, rapid movement into and out of employment and greater labour mobility. This text examines the social and economic consequences of this employment flexibility. The book derives from the 2nd Anglo-French Conference on the Transferability of Social Policy held in 1998, which focused on the problems created by employment flexibility and the appropriate policy responses, it also presents commentaries on the consequences of flexibility in Britain and France. It brings together British and French perspectives on such policy questions as the impact on families and their ability to plan in an atmosphere of economic insecurity, the manner in which French and British welfare systems are adapting, the impact on citizens' rights, the need, in both countries, to make pension arrangements more adaptable, and the potential for a "European citizenship" approach to the problem.

Presenting 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.

Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.