a column for VOX: CEPR’s Policy Portal by Roel Beetsma, Ward Romp and Ron van Maurik
Population ageing means that many current pension regimes are unsustainable, but the timing of pension reform measures is a political as well as an economic decision. This column uses new data on OECD pension reforms since 1970 to show that their timing has not been driven by projected demographic developments or political change, but by the state of the economy at the time when reforms were legislated. Pension systems have expanded more frequently during booms, and have contracted during economic downturns.
Continue reading and discover that proper planning based on fact does not exist. Did I ever think it did? Probably not having spent 22 years on "the other side of the counter". What was the point of gathering all those statistics if the end result is chaos?
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