The Financial Well-Being of Elderly People in Europe and the Redistributive Effects of Minimum Pension Schemes

Posted: 29 Aug 2013

See all articles by Francesco Figari

Francesco Figari

ISER - University of Essex

Manos Matsaganis

Athens University of Economics and Business

Holly Sutherland

University of Essex - Institute for Social and Economic Research (ISER)

Date Written: August 1, 2013

Abstract

This study analyses the financial well-being of elderly people across Europe. Using the European microsimulation model EUROMOD, which facilitates the identification of minimum pension schemes in a comparable way across countries, we gather together new empirical findings on the redistributive effects of the minimum pension schemes in a range of European countries. In particular, we quantify the extent to which these schemes contribute to alleviate elderly poverty across Europe. Nevertheless, the financial well-being of older people depends crucially on the pension system as a whole. Countries with generous minimum pension schemes seem to allocate relatively fewer resources to other pillars of the pension system. On the one hand, they are more effective in reducing elderly poverty rates. On the other hand, they fail to ensure a level of financial well-being of older people in line with the overall population.

Keywords: Minimum Pensions, European Union, Microsimulation, Poverty, Elderly

JEL Classification: C81, H55, I38

Suggested Citation

Figari, Francesco and Matsaganis, Manos and Sutherland, Holly, The Financial Well-Being of Elderly People in Europe and the Redistributive Effects of Minimum Pension Schemes (August 1, 2013). Rivista Italiana degli Economisti, Vol. 2, August 2013, Available at SSRN: https://ssrn.com/abstract=2317243

Francesco Figari (Contact Author)

ISER - University of Essex ( email )

Wivenhoe Park
Colchester CO4 3SQ
United Kingdom

Manos Matsaganis

Athens University of Economics and Business ( email )

76 Patission Street
Athens, 104 34
Greece

Holly Sutherland

University of Essex - Institute for Social and Economic Research (ISER) ( email )

Wivenhoe Park
Colchester CO4 3SQ
United Kingdom

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Abstract Views
439
PlumX Metrics