Russia is due to hold parliamentary elections on 18 September. To coincide with the elections, we will be running a number of articles on Russian politics and society. In this contribution, Aadne Aasland and Linda Cook outline one of the key challenges facing Russian policymakers: the management of the country’s pension system. While the Russian government is wary of […]
Pension reforms since the financial crisis could have a serious impact on the future retirement incomes of young Europeans
What effect has the financial crisis had on pension systems in EU countries? Aaron G. Grech notes that prior to the crisis there was a significant divergence in pensions across the EU, with some states having relatively generous systems in comparison to others. He writes that following the crisis, southern European states have had to substantially cut back on […]
The ability to eat cheaper home-cooked meals more often might explain why people appear to spend less money after retirement.
A number of studies suggest that those who have retired spend significantly less money than those who are still working. This might imply that many people have insufficient savings for retirement. Using data from Spain, Maria Jose Luengo-Prado and Almudena Sevilla-Sanz take issue with this perspective. Noting that much of the reduction in spending is related to food expenditure, they […]
Since the 1990s, the public pensions landscape in the EU has altered drastically, with reforms changing both the nature of provision and the level of generosity. Looking at the changes made in ten EU countries, Aaron George Grech finds that pensions systems’ effectiveness in alleviating poverty remains strong only in those countries where minimum pensions were improved. However, moves to link […]
The eurozone crisis has accelerated the reform of public pensions in Italy, but future pensions may no longer provide an adequate income in retirement.
For years Italian workers have had access to very generous public pensions, with relatively early retirement ages, and until the crisis, strong interests and the fractious nature of Italian politics made pension reform near impossible. Leandro Carrera looks at the history of post-war pension reforms in Italy and finds that the eurozone crisis and influence from the EU have forced […]
As the government in Slovenia fights to put through its austerity programme, there is little sympathy for the Greeks
The average pension in Slovenia is €570per month. Many Greeks receive – even in times of austerity and budget cuts – much higher pensions. Nevertheless, Slovenia has helped to bail out Greece, most recently in March when it offered €1 billion of collateral. But Marko Milosavljević predicts that the Slovenies’ willingness to pay for Greece’s troubles will soon fade. When Christine […]