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 […]

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Reforms across Europe linking pension benefits to contributions may push some elderly into poverty.

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 […]

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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 […]

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Austerity policies and structural reforms are leading to the Americanization of the European Social Model

Will Europe’s social model survive the current Eurozone crisis? Antonio Lettieri argues that the politics of the new “Frankfurt-Brussels consensus” are based on austerity and “structural reforms”. Reductions in social spending that are going hand in hand with the increased privatization of pension, health and education systems point towards an ‘Americanized’ social model for Europe in the future. How will the European […]

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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 […]

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