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CSEF - Center for Studies in Economics and Finance

1 April 2002 – 0000
Financing Retirement in Europe: Public Sector Reform and Financial Market Development

Financing Retirement in Europe

The financing of pensions is one of the most significant medium to long-term economic and social issues in Europe. If established demographic and labour market trends continue, major changes to the existing national systems of retirement are inevitable. However, there is considerable debate as to the most appropriate form for new social security institutions, and even a partial move away from PAYG raises hard questions of intergenerational equity and significant risks that can fall disproportionately on certain age and social groups. This project will address a variety of questions concerning this transition, some that traditionally have been the province of public finance specialists, and others that fall within the sphere of finance. The integration of these two approaches into the same project has rarely been tried in the past.
This research program is financed by the EU under the RTN program, through the network on “Financing Retirement in Europe: Public Sector Reform and Financial Market Development” (FINRET). Besides CSEF, this network includes the CEPR (Centre for Economic Policy Research), IDEI (University of Toulouse), the University of Amsterdam, Pompeu Fabra University, CORE (Catholic University of Louvain), and FMG (London School of Economics).