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The politics of multipillar pension restructuring in Denmark, the Netherlands and Switzerland
Die Politik der Restrukturierung des Mehrsäulen-Pensionssystems in Dänemark, den Niederlanden und der Schweiz
[working paper]
Corporate Editor
Wissenschaftszentrum Berlin für Sozialforschung gGmbH
Abstract
"This paper analyzes the restructuring of private, occupational pensions in the Netherlands, Denmark and Switzerland. Despite the institutional similarities of all three systems (extensive pre-funding, collectively organized pensions, near-universal coverage), the three systems differ in important w... view more
"This paper analyzes the restructuring of private, occupational pensions in the Netherlands, Denmark and Switzerland. Despite the institutional similarities of all three systems (extensive pre-funding, collectively organized pensions, near-universal coverage), the three systems differ in important ways in terms of governance. The paper investigates the ways in which these variable governance structures shaped responses to the stock market downturn in 2001-2002. The Dutch occupational pension system experienced substantial retrenchment (shift from career earnings to average earnings formulae in defined benefit (DB) schemes as well as increased contributions) whereas the Danish and Swiss schemes sustained fewer cutbacks. The paper argues that the DB structure of Dutch pensions as well as the specifics of the regulatory framework forced a drastic adaptation to changes in financial markets, whereas the flexible defined contribution (DC) framework in Denmark and Switzerland facilitated a more modest adaptation to the market downturn." (author's abstract)... view less
Keywords
retirement pension; Netherlands; Switzerland; private provision; Denmark; pension payments; pension; social security agreement; pension insurance
Classification
Social Security
Method
descriptive study
Document language
English
Publication Year
2008
City
Berlin
Page/Pages
35 p.
Licence
Deposit Licence - No Redistribution, No Modifications
Data providerThis metadata entry was indexed by the Special Subject Collection Social Sciences, USB Cologne