Reforming against all odds: Multi-pillar pension systems in the Czech Republic and Romania

Adascalitei, Dragos ; Domonkos, Stefan

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Document Type: Article
Year of publication: 2015
The title of a journal, publication series: International Social Security Review
Volume: 68
Issue number: 2
Page range: 85-104
Place of publication: Oxford [u.a.]
Publishing house: Wiley-Blackwell [u.a.]
ISSN: 0020-871X ; 1468-246X
Publication language: English
Institution: Außerfakultäre Einrichtungen > Mannheim Centre for European Social Research - Research Department A
Subject: 300 Social sciences, sociology, anthropology
Abstract: Attempts to replace pay-as-you-go pension schemes with private funded systems came to a halt in Central and Eastern Europe after 2005. However, more recently, the region has witnessed two belated reformers: the Czech Republic and Romania. Both countries decided to partially privatize pensions despite the rising tide of evidence concerning the challenges associated with the policy. We argue that while part of the domestic political elite remained supportive of private funded pensions, the difficulties experienced by earlier reformers and reduced support from International Financial Institutions led to the adoption of small funded pension pillars. Such cautious attempts at privatization might become more common in the future as large reforms have proven politically unsustainable.

Dieser Eintrag ist Teil der Universitätsbibliographie.

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