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Innovative Institutions and Products for Retirement Provision in Europe

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Ageing, Health and Pensions in Europe

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Abstract

The institutional settings related to pension provision differ widely within Europe. In some countries, income transfers within families are still very important. In other countries, major parts of pension provision are delegated to large financial conglomerates. Some countries rely almost exclusively on public pay-as-you-go (PAYG) systems. In others, private funded pension systems are important. A wide diversity of funded systems exists in Europe. Some countries feature DB (defined benefit) plans in which participation is mandatory, the sponsor absorbs most risks, pension entitlements are paid out as annuities and uniform pension products are offered to all participants. Funded systems in other countries are of the individual DC (defined contribution) type in which participants themselves take all savings and investment decisions and usually face substantial investment, inflation and conversion risk.

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Authors
  1. Lans Bovenberg
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  2. Theo Nijman
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Editor information

Editors and Affiliations

  1. University of Tilburg, The Netherlands

    Lans Bovenberg  & Arthur van Soest  & 

  2. European Centre for Social Welfare Policy and Research, Vienna, Austria

    Asghar Zaidi

Copyright information

© 2010 Lans Bovenberg / Theo Nijman

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Bovenberg, L., Nijman, T. (2010). Innovative Institutions and Products for Retirement Provision in Europe. In: Bovenberg, L., van Soest, A., Zaidi, A. (eds) Ageing, Health and Pensions in Europe. Palgrave Macmillan, London. https://doi.org/10.1057/9780230307346_4

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