largest part of their retirement income. It focuses next on core SPI features: How benefits are calculated; important changes … empirical data showing the evolution of different, old-age income sources since the 1990s. This institutional description shows … benefit future generations of pensioners. Thus, those most affected by welfare state changes in relation to old-age pensions …

When policy discussions turn to income provisions for the old-aged, the focus is often on Social Security programs and … the long-term solvency of national public pension systems. While Social Security remains the most important income source … individual pensions as a crucial part of their retirement income. The paper gives an account of relevant social and legal …