Allemaal langer werken voor minder pensioen?

1. Pension Reform in Europe Allemaal langer werken voor minder pensioen? Kim De Witte Adequate, Safe and Sustainable Pensions ?

2. Presentation: three parts Three parts : • Pension Reform : European framework • Pension Reform : Belgium exemple • Adequate, Safe and Sustainable Pensions : reflections and alternatives

3. Pension Reform in Europe • White paper 2012: An Agenda for Adequate, Safe and Sustainable Pensions • Continuation of three-part strategy Stockholm European Council (2001) • public debt reduction • increasing employment and productivity • reforming social security systems

4. Pension Reform in Europe • Evolution between 2001 and 2012 i. & ii. Negative iii. Positive, bust cost = social sustainability • EC White paper on pensions: threemainmeasures • Worklonger • Stimulate private retirementsavings • Decreasegovernementspendingfor public social security pensions

5. Pension Reform in Europe • Worklonger • link the retirement age with increases in life expectancy • restrict access to early retirement schemes and other early exit pathways • support longer working lives by, for exemple, providing better access to life-long learning • equalise the pensionable age between men and women

6. Pension Reform in Europe • Exemples • France: 62 • Estonia: 63 • Bulgaria: 65 (men) and 63 (women) • Czech Republic and Hongaria: 65 (except for women with children in the Czech Republic) • Germany, Spain, Poland and Belgium: 67 • UK and Ireland: 68 • Norway: flexible between 62 and 75

7. Pension Reform in Europe • Stimulate supplementary private retirement savings (2nd pillar) • improve the cost-effectiveness, safety and equitable access to supplementary pension schemes • tax incentives • collective bargaining

8. Pension Reform in Europe • Exemples • Germany: increase of tax incentives for defined contribution plans • Portugal: new system of individual pension savings • Romania: introduction of a mandatory private pension system • Estonia, Latvia and Lithuania: decrease of contributions to the supplementary pension system and increase of contributions to the PAYG social security system

9. Pension Reform in Europe • Decrease governementspendingfor public social security pensions • Pension Adequacy in the EU: “the greater sustainability of public pensions in most Member States has, to a significant extent, been achieved through reductions in future adequacy.” (report 2012) (idem White Paper) • Belgian exemple

10. Belgian exemple • Increase pension age to 67 and decrease systems for early pension Source: J. BERGHMAN e.a., 2012, 111

11. Belgian exemple • Decrease pension bonus, solidarity for certain risks, pensions for state workers and family pensions

12. Belgian exemple

13. Adequate, Safe and Sustainable Pensions ?

14. Adequate, Safe and Sustainable Pensions ? Bron: Eurostat, Jeugd- werk- loosheid, 2000- 2014

15. Adequate, Safe and Sustainable Pensions ? • Increase • Pensions • Health care • Decrease • Disability • Unemployment • Earlyretirement • Othersocial expenditures

16. Adequate, Safe and Sustainable Pensions ?

17. Adequate, Safe and Sustainable Pensions ? • Twovisions: verylittledemocraticdebate • Socialvision • Liberalvision • Financing pensions • Wealthtax • “Tax shift” • Fiscalcorruption: land register, bank secrery, public nature of all financial transactions, andcriminalprosecution of fiscalcorruption