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Indexation of public pension benefits on a legal basis: Some experiences in European countries

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  • Henk Vording
  • Kees Goudswaard

Abstract

Legal provisions concerning indexation of social benefits to wage or price movements are a common feature of social security systems in European countries. At the moment, there is a lively debate in some countries whether such mechanisms should be continued in a modern, flexible Welfare State. This paper analyses whether indexation provisions are effective, i.e. whether they limit the range of political decision‐making on benefit adjustments. Evidence from Germany, the United Kingdom, France and the Netherlands shows that trends in benefit adjustment are quite pronounced in time and comparable between countries, indicating that changing economic circumstances may be of more importance to changes in benefit levels than the precise contents of indexation clauses. Also, indexation clauses have frequently been adjusted to changing circumstances. Nevertheless, it appears that the incorporation of indexation provisions in the law still has a strong symbolic meaning.

Suggested Citation

  • Henk Vording & Kees Goudswaard, 1997. "Indexation of public pension benefits on a legal basis: Some experiences in European countries," International Social Security Review, John Wiley & Sons, vol. 50(3), pages 31-44, July.
    • Handle: RePEc:wly:intssr:v:50:y:1997:i:3:p:31-44
    DOI: 10.1111/j.1468-246X.1997.tb01075.x
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    Cited by:

    1. Francesco Macheda, 2018. "The illusion of patient capital: evidence from pension investment policy in the Netherlands," Working Papers 0029, ASTRIL - Associazione Studi e Ricerche Interdisciplinari sul Lavoro.
    2. palacios, Robert & Whitehouse, Edward, 2006. "Civil-service pension schemes around the world," Social Protection Discussion Papers and Notes 90340, The World Bank.
    3. Edward Whitehouse, 2007. "Pensions Panorama : Retirement-Income Systems in 53 Countries," World Bank Publications - Books, The World Bank Group, number 7177.

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