Housing as a Pension: Policy Implications for Europe
The European Union considers “an adequate and sustainable retirement income for EU citizens now and in the future” to be a main policy goal (European Commission, 2010). Given demographic aging, the past financial economic crisis, and the excessive indebtedness of some EU member states, the need for pension reforms in EU member states is recognized and policy measures are gradually implemented. As the share of retirees is expected to grow to a quarter of the total population by 2060, the old age dependency ratio doubles to around 50%.
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