Public preferences on the public-private mix for retirement income in European countries
Sprache des Vortragstitels:
Englisch
Original Tagungtitel:
ESPAnet Austria 2024
Sprache des Tagungstitel:
Englisch
Original Kurzfassung:
Most affluent democracies are faced with low fertility rates and increasing life expectancy challenging the financing of pension systems. Several countries have reformed their pension systems and provide (future) old-age income based on different sources such as public, occupational, and private pension in response to these developments, whilst others are reluctant to follow the path of multi-pillar pension systems. Yet, we still have a very little understanding of what are the preferences of the population regarding the mix of public and private sources for their retirement income.
Most studies so far investigate the public opinion about the (most) preferred provider of old-age income. However, this does not reflect the real situation of most people, as retirement income is usually composed of several sources. Therefore, we are interested in the analysis of the preferred mix of pension income. What explains public preferences of the public-private pension mix? A novel cross-national survey in six European countries (Austria, Ireland, Denmark, the Netherlands, Germany and Spain) with variation in the current multi-pillar pension system disentangles several socio-economic factors at individual level such as age, gender, income, education, political ideology, and financial literacy. Pension reforms against the majority of public opinion are not only electorally risky, but also endanger satisfaction with the welfare state and the way democracies work. Knowledge about public opinion and what explains it is therefore crucial.
Forschungs-