Providing a decent living standard and preventing old-age poverty are the two major challenges of pension insurance schemes. Replacement rates below the poverty line despite many years of contribution represent a major challenge for public pension schemes with respect to the systems "raison...

The 2014 pension reform has three main components. First disability pensions have been increased by about two earnings points, an average monthly gain of 40 euros. In addition low wages in the four years preceding disability-related retirement will now be disregarded. However, since these new...