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Demographic and Social Challenges in the Design of Public Pension Schemes

  • Estefanía Alaminos
  • Mercedes AyusoEmail author
  • Montserrat Guillen
Chapter
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Abstract

Demographic changes and social transformations affect the design of public pension systems. Population ageing and factors such as the progressive reduction in fertility rates and the increase in longevity have a direct impact on the sustainability of public pensions, especially in defined-benefit schemes. The study of longer life expectancy requires an analysis of its effects on specific issues such as pension adequacy (both contributory and non-contributory pensions), pensioners receiving several public benefits simultaneously (for instance, retirement and widow/widower’s pensions) and the availability of sufficient financial resources to meet health and long-term care costs during retirement. This chapter presents an applied view of the evolution of the main demographic indicators and their effect on pension systems, based on previous studies carried out by the authors.

Keywords

Ageing Welfare state Pension adequacy Social challenges 

Notes

Acknowledgments

The study was supported by ICREA Academia, the Spanish Ministry of Economy and Competitiveness and the ERDF under grants ECO2015-66314-R and ECO2016-76203-C2-2-P.

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Copyright information

© Springer Nature Switzerland AG 2020

Authors and Affiliations

  • Estefanía Alaminos
    • 1
  • Mercedes Ayuso
    • 1
    Email author
  • Montserrat Guillen
    • 1
  1. 1.Department of EconometricsUniversity of BarcelonaBarcelonaSpain

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