The Public Pension Systems and the Economic Crisis

Concern about the long-term sustainability of European public pension systems has been a permanent feature for decades due to the unstoppable ageing of the population, but demographic change is not the only factor of concern. A deep economic and financial crisis has been added to this structural problem, whose impact on economic growth and job creation has further aggravated the situation. The combination of these two challenges has created a “perfect storm”, which is forcing most European countries to introduce far-reaching reforms in their pension systems with the aim of ensuring their sustainability. This chapter analyses the main measures that the different EU-28 countries have addresse…