Pension reforms in the European Union: What can we learn?
|Author:||Mgr. Hana Peroutková|
|Year:||2009 - winter|
|Leaders:|| doc. Ing. Ondřej Schneider MPhil., Ph.D.
|Work type:|| EEI & EP
|Awards and prizes:|
|Abstract:||This diploma thesis tries to provide an overview of pension systems and pension reforms in the EU countries. To describe characteristics of pension systems together with latest reform steps more comprehensively, a comparative typology of pension systems and reforms was performed. Moreover, this analysis brings interesting findings about a link between pension reform strategies and characteristics of pension systems together with demographic situation of European Union countries. The analysis is based on principal component analysis of qualitative data and preference mapping (multidimensional preference analysis). The pension system characteristics include variables describing a pension generosity, a development of private pension schemes, and a labor force participation of older workers.
To provide a compact overview of pension reforms in the European Union, firstly the reasons for implementing necessary pension reforms are listed, followed by description of the first and second tier of pension systems, pension eligibility ages, several economic indicators of pension entitlements, and expenditures on public pension systems. Comparison of two main ways of financing the pension system (PAYG and funded) is important background for examination of main reform strategies of pension reforms that is also presented in this thesis.