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

2. Pension Reform in Europe 2 Presentation: three parts Three parts : 1.Pension Reform : European framework 2.Pension Reform : Belgium exemple 3.Adequate, Safe and Sustainable Pensions : reflections and alternatives

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

4. Pension Reform in Europe 4 Evolution between 2001 and 2012 i. & ii. Negative iii. Positive, bust cost = social sustainability EC White paper on pensions: three main measures 1.Work longer 2.Stimulate private retirement savings 3.Decrease governement spending for public social security pensions

5. Pension Reform in Europe 5 1.Work longer  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 6 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 7 2.Stimulate supplementary private retirement savings (2 nd pillar)  improve the cost-effectiveness, safety and equitable access to supplementary pension schemes  tax incentives  collective bargaining

8. Pension Reform in Europe 8 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 9 3.Decrease governement spending for 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. Pension Reform in Europe 10 Belgian exemple Increase pension age to 67 and decrease systems for early pension Source: J. BERGHMAN e.a., 2012, 111

11. Pension Reform in Europe 11 Belgian exemple Decrease pension bonus, solidarity for certain risks, pensions for state workers and family pensions

12. Pension Reform in Europe 12 Belgian exemple

13. Pension Reform in Europe 13 Adequate, Safe and Sustainable Pensions ?

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

15. Pension Reform in Europe 15 Adequate, Safe and Sustainable Pensions ? Increase  Pensions  Health care Decrease  Disability  Unemployment  Early retirement  Other social expenditures

16. Pension Reform in Europe 16 Adequate, Safe and Sustainable Pensions ?

17. Pension Reform in Europe 17 Adequate, Safe and Sustainable Pensions ? Two visions : very little democratic debate  Social vision  Liberal vision Financing pensions  Wealth tax  “Tax shift”  Fiscal corruption: land register, bank secrery, public nature of all financial transactions, and criminal prosecution of fiscal corruption