Averting the Funding-Gap Crisis: East European Pension Reforms since 2008
Global Social Policy, 12 (3), Forthcoming
28 Pages Posted: 3 Apr 2012 Last revised: 26 Jul 2012
Date Written: June 13, 2012
This paper analyses the post-2008 pension reforms in Central and East European Countries. The economic crisis revealed the unresolved problems in the implementation of previous reforms: the financing of the transformation costs. The reforms thus reacted to the legacies of past choices as well as to the exceptional circumstances of the crisis in their attempts to solve the funding-gap issue. An interplay of fiscal constraints and political conditions shaped the variety of reform outcomes.
Keywords: pensions, pension privatization, funding gap, transition costs, Central and Eastern Europe
JEL Classification: H55
Suggested Citation: Suggested Citation