With the introduction of the state subsidized private retirement provision, the implementation of the sustainability factor and the increase of the statutory retirement age comprehensive pension reforms have been adopted in Germany in recent years. In this article we outline the insufficiency of...

Mit dem Einstieg in die staatlich geförderte private Altersvorsorge, der Einführung des Nachhaltigkeitsfaktors und der Rente mit 67 wurden in Deutschland in den letzten Jahren umfangreiche Rentenreformen verabschiedet. Diese jüngsten Maßnahmen werden im Hinblick auf die sich abzeichnende...

A major aim of the recent updates of National Accounting standards (SNA2008 and ESA2010) is to provide a more complete picture of households’ wealth. In this course it will become mandatory for European countries to publish annual estimates of unfunded public pension entitlements (UPPE) from...

Poland faces one of the most rapidly ageing population in Europe. The old age dependency ratio is expected to triple until 2060. Against this background, our paper examines the sustainability of Polish public finances and its isolated subsystems. We consider the profound recent reforms including...

This paper studies the effect of Hungarian pension reforms between 2009-2012 on the adequacy and long-term fiscal stability of the Hungarian public pension system. For the adequacy analysis, we use a micro simulation model to project future initial pension levels relative to future gross wages....

In this paper we evaluate the long-term performance of the Polish public pension system from three perspectives: fiscal stability, intergenerational redistribution and adequacy of pension benefits. We assess the two recent public pension reforms undertaken in Poland: 1) the shift of a part of...