Sustainable pension systems in the EU : a selective perspective

Abstract

The main aim of this dissertation is to outline the various pension systems currently in place in the EU, briefly examine proposals put forth at EU level to finally integrate this with the concept of globalisation. It is divided into five chapters. The first chapter takes a human geography perspective, dealing mainly with demographic changes following the Second World War. Issues such as the decline in fertility rate, longevity, mobility and family policy are outlined. This chapter brings forth the link to the current pension problem within the EU and also on a global scale. The second chapter outlines the EU proposals in connection with the three pension schemes. These include state schemes, occupational schemes and individual pension plans, known as the three pillars. It is expected that in the near future more reliance will be made on the second and third pillars mentioned above, as supplementary to the state scheme. The third chapter delves into the historical development and the current situation of France and the UK representing two EU Member States. Country specific issues and the extent to which these contribute towards the problem of creating a sustainable pension system are identified in each case. Chapter four is a case study of Malta's current state of play with regards to sustainable pensions, in the light of its candidature for EU membership. Throughout this chapter opinions of representatives from the three political parties vis-a-vis Malta's pension situation are included. The concluding chapter primarily deals with recommendations at EU level. Issues such as directives, recommendations of the Committee on Economic and Monetary Affairs, the adoption of the European Company Statue, labour market policy (including gender equality and re-integration), the concept of active ageing and the extension of pensionable age are also dealt with. An analysis of the various elements previously identified is also included. This is done to establish which of these could be most appropriate to the EU, particularly when put in the context of globalisation. This dissertation concludes with a close look at the prospective future of pension systems.