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The Varieties of Pension Governance - Pension Privatization in Europe (Hardcover)
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The Varieties of Pension Governance - Pension Privatization in Europe (Hardcover)
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The ongoing privatization of pensions--the shift from state to
private responsibility for old age retirement income--raises
fundamental issues of social and participatory rights. The recent
financial market crisis makes the problematic nature of funded
private pensions that fall short of expected returns dramatically
clear. What have been the experiences in developed multipillar
systems? What can be learned for those pensions systems currently
under reform?
This edited book compares the varieties of pension governance in
ten European countries. Contrasting the experience of developed
multipillar systems such as Britain, Denmark, the Netherlands, and
Switzerland with the recent shift toward private occupational and
personal pensions in Belgium, France, Finland, Germany, Italy, and
Sweden. The country chapters investigate how and why old age income
responsibilities are being shifted to employers, unions, and
individuals. They describe the changing public and private pension
mix, and the particular features of the private occupational and
personal pensions.
In particular The Varieties of Pension Governance discusses four
major questions: who is covered, what kind of benefits, who pays,
and who governs? Three comparative analyses provide an additional
value, describing the long-term institutional change from public to
multipillar pension systems, the variations in regulation and
governance of private pensions, and the consequences for income
inequality in old age. This book combines the benefits of a
reference work--ten up-to-date country studies of major pension
systems in Europe--with three cross-national comparative empirical
analyses that provide comprehensive information on important
aspects of the reform development, societal governance, and social
outcomes of pension systems.
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