Pension reforms in post-socialist EU member states

Abstract

Abstract This paper surveys the most important conundrums of the pension policies among the EU11 countries. After the systemic changes following 1989, these nations had to transform their old-age pension systems. Emphasizing the commonalities and the differences, we reach the conclusion that none of the eleven countries have found the perfect solution: a pension policy mix which would combine sustainability and efficiency with adequacy. Some of the errors discussed in the study reappear from time to time in various forms and in various situations. By evaluating pension systems alongside the most important qualitative dimensions, our paper provides an analysis of the most ubiquitous pension policy errors in a common framework. Keywords: post-socialist countries, pension reform, political sustainability, economic sustainability