The move away from the three-pillar pension system in central Europe Cover Image

Odklon od třípilířového důchodového systému ve střední Evropě
The move away from the three-pillar pension system in central Europe

Author(s): Marek Loužek
Subject(s): Labor relations, Government/Political systems, Comparative politics, Socio-Economic Research
Published by: Výzkumný ústav práce a sociálních věcí
Keywords: pension insurance; 2nd pillar; development; Hungary; Poland; Slovakia;

Summary/Abstract: A few years ago, when Poland, Hungary and Slovakia launched three-pillar pension systems in line with the recommendation of the World Bank, central Europe experienced a pension-system revolution. Lagging behind the other countries, the Czech Republic also introduced the second pillar (albeit on a voluntary basis). What we are seeing today in central Europe is a "pension system counter-revolution". All these countries are discontinuing the second pillar and reverting to a pay-as-you-go system. What lessons can be learnt from this?

  • Issue Year: 2015
  • Issue No: 2
  • Page Range: 18-19
  • Page Count: 2
  • Language: Czech