Pension Reforms in the EU since the Early 2000’s: Achievements and Challenges Ahead

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Series Details Number 42
Publication Date 23/12/2016
ISBN 978-92-79-59958-3
ISSN 2443-8022
EC KC-BD-16-042-EN-N
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This paper draws heavily on the wealth of information contained in the five vintages of the joint EC (ECFIN) and EPC (AWG) Ageing Reports (published in 2001, 2006, 2009, 2012 and 2015). The paper is organised as follows. Chapter 2 analyses the features of the pension reforms over the last decade. Chapter 3 assesses the budgetary savings resulting from the estimated impact of pension reforms, making use of the 5 vintages of long-term budgetary projections (released in 2001, 2006, 2009, 2012 and 2015), carried out jointly by the Commission services (DG ECFIN) and the group of Member States' experts on ageing (the AWG, attached to the Economic Policy Committee). Chapter four describes the impact of the reforms on the actuarial fairness, the financial sustainability and the adequacy of EU pension systems. The paper concludes by describing remaining challenges and policy options.

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