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Pensions During the Crisis: Impact on Retirement Income Systems and Policy Responses

Author

Listed:
  • Edward Whitehouse

    (OECD, rue André Pascal 2, Paris 75775 Paris Cedex 16, France.)

Abstract

The financial and economic crisis has had a profound impact on economies and societies, and pension systems are no exception. This paper illustrates the impact of the financial crisis on private pension schemes and of the wider economic crisis on both private and public retirement income provisions. The analysis shows that no pension scheme and no country is immune from the effects of the crisis. Policy responses to the crisis are explored: both short-term mitigation and addressing long-term, structural problems that have been highlighted and exacerbated by current financial and economic difficulties.

Suggested Citation

  • Edward Whitehouse, 2009. "Pensions During the Crisis: Impact on Retirement Income Systems and Policy Responses," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 34(4), pages 536-547, October.
    • Handle: RePEc:pal:gpprii:v:34:y:2009:i:4:p:536-547
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    Citations

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    Cited by:

    1. Aaron George Grech, 2015. "The Financial Crisis and Differences in State Pension Generosity across EU Countries," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 13(02), pages 36-41, August.
    2. Godínez-Olivares, Humberto & Boado-Penas, María del Carmen & Haberman, Steven, 2016. "Optimal strategies for pay-as-you-go pension finance: A sustainability framework," Insurance: Mathematics and Economics, Elsevier, vol. 69(C), pages 117-126.
    3. Tianhong Chen & John A. Turner, 2021. "China’s development of a multi‐tier pension system," International Social Security Review, John Wiley & Sons, vol. 74(1), pages 35-58, January.
    4. Aaron George Grech, 2015. "The Financial Crisis and Differences in State Pension Generosity across EU Countries," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 13(2), pages 36-41, 08.
    5. M. Carmen Boado-Penas & Julia Eisenberg & Ralf Korn, 2019. "Transforming public pensions: A mixed scheme with a credit granted by the state," Papers 1912.12329, arXiv.org.
    6. Boado-Penas, M. Carmen & Eisenberg, Julia & Korn, Ralf, 2021. "Transforming public pensions: A mixed scheme with a credit granted by the state," Insurance: Mathematics and Economics, Elsevier, vol. 96(C), pages 140-152.
    7. Barajas, Adolfo & Catalán, Mario, 2015. "Market discipline and conflicts of interest between banks and pension funds," Journal of Financial Intermediation, Elsevier, vol. 24(3), pages 411-440.
    8. repec:ces:ifodic:v:13:y:2015:i:2:p:19166297 is not listed on IDEAS
    9. Mr. Adolfo Barajas & Mr. Mario Catalan, 2011. "Market Discipline and Conflicts of Interest Between Banks and Pension Funds," IMF Working Papers 2011/282, International Monetary Fund.
    10. Rastislav Potocký & Helmut Waldl & Milan Stehlík, 2014. "On Sums of Claims and their Applications in Analysis of Pension Funds and Insurance Products," Prague Economic Papers, Prague University of Economics and Business, vol. 2014(3), pages 349-370.
    11. Grech, Aaron George, 2015. "Pension reforms in the 1990s and during the financial crisis: More of the same?," MPRA Paper 66894, University Library of Munich, Germany.
    12. Bill Dupor & Rodrigo Guerrero, 2021. "The Aggregate And Local Economic Effects Of Government Financed Health Care," Economic Inquiry, Western Economic Association International, vol. 59(2), pages 662-670, April.

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