The article studies pension reforms in Greece, Italy, Portugal, and Spain between 1990 and 2013, focusing on three change dimensions: multi-pillarisation, institutional harmonisation, and spending trends (cost-containment/expansion). Their pension evolution is reassessed throughout crisis and austerity. All countries encouraged the spread of private pensions and harmonised their fragmented public schemes. Cost containment was massive, putting future adequacy at risk. While international actors, especially the EU, acquired a stronger role, that of organised labour declined. Spiralling between crisis and austerity, these systems changed and adapted, but still face old and new problems: inequality, risk individualisation, and increasing vulnerability to external shocks.

Reassessing South European Pensions after the Crisis: Evidence from Two Decades of Reforms

NATALI, David;
2014-01-01

Abstract

The article studies pension reforms in Greece, Italy, Portugal, and Spain between 1990 and 2013, focusing on three change dimensions: multi-pillarisation, institutional harmonisation, and spending trends (cost-containment/expansion). Their pension evolution is reassessed throughout crisis and austerity. All countries encouraged the spread of private pensions and harmonised their fragmented public schemes. Cost containment was massive, putting future adequacy at risk. While international actors, especially the EU, acquired a stronger role, that of organised labour declined. Spiralling between crisis and austerity, these systems changed and adapted, but still face old and new problems: inequality, risk individualisation, and increasing vulnerability to external shocks.
2014
File in questo prodotto:
Non ci sono file associati a questo prodotto.

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11382/512616
 Attenzione

Attenzione! I dati visualizzati non sono stati sottoposti a validazione da parte dell'ateneo

Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus 29
social impact