One feature of recent pension reforms in OECD countries has been that more individual responsibility is transferred to employees and in particular to those approaching the end of their working life. Enlarged freedom of choice concerns the timing of retirement with corresponding consequences for...

The 2008 financial market crisis, followed by the Great Recession and sovereign debt crises in several EU countries have triggered drastic reforms of old-age security systems. They were supposed to ensure the financial viability of public pension schemes in the short and long run and/or to...

Die Finanzmarktkrise von 2008 und in deren Gefolge die Große Rezession sowie Staatsschuldenkrisen in verschiedenen EU-Ländern haben einschneidende Reformen der Alterssicherungssysteme ausgelöst, die die Finanzierung der Renten kurz- und langfristig sicherstellen, fiskalischen...

One feature of recent pension reforms in OECD countries has been that more individual responsibility is transferred to employees and in particular to those approaching the end of their working life. Enlarged freedom of choice concerns the timing of retirement with corresponding consequences for...

The public pension scheme has been an important element of the successful model of 'Rhenish Capitalism' (social market economy) in post-war Germany. On the one hand, the promise to guarantee status maintenance during retirement sustained the incentives of the labor market in that it promoted...