All of the former transition economies in Central, Eastern, and Southern Europe (CESE) inherited from the era of central planning traditional defined-benefit pension systems financed on a pay-as-you-go basis. Like many pay-as-you-go public pension systems elsewhere in the world, CESE pension systems were in need of reforms to address short-term fiscal imbalances and longer-term issues relating to population aging. Reforms were also needed to adjust...
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2009/03/17
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2009/04/07
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Adequacy of retirement income after pension reforms in Central, Eastern, and Southern Europe : eight country studies
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present value of tax revenue
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