There is a large variety of pension systems across EU members. This column argues for more private retirement saving as it is necessary to maintain old-age incomes and as it may also contribute to the stability of markets for government debt. But, it adds, governments should retain important responsibilities to prevent moral hazard due to intragenerational redistribution, to facilitate risk-sharing, and to minimise the agency issues due to financial illiteracy.
Pablo Antolin, Fiona Stewart, 01 May 2009
The current crisis has reduced the value of retirement assets by nearly 25%. This column examines policymakers’ reponses to the impact of the financial crisis on global pension assets in light of international best practices, highlights the continued importance of private pensions, and suggests ways to improve the regulation, supervision, design and management of these funds.
Most Read
Vox eBooks
Events
-
19 - 19 February 2020 / Milan, Italy / SUERF and UniCredit Foundation
-
13 - 13 March 2020 / London / UK Network for Environmental Economists
-
20 - 20 March 2020 / University of Paris Nanterre / EconomiX-CNRS and the Doctoral School EOS (Université Paris Ouest - Nanterre La Défense), CeReFiM (University of Namur), LFIN (Université Catholique de Louvain-Louvain School of Management) and LEO (Université d'Orléans)
-
25 - 26 March 2020 / London, United Kingdom / Bank of England, CEPR and Imperial College
-
27 - 27 March 2020 / San Francisco / Federal Reserve Bank of San Francisco
