AIAS Lunch Seminar 19 April - Prof. Dr. Bernhard Ebbinghaus - Mannheim Centre for European Social Research

The Governance of Funded Pensions in Europe – Lessons from the Financial Crisis?

Day: Thursday 19 April
Time: 12.15 – 13.15 hrs.
Location: AIAS, 3rd floor, M building, Plantage Muidergracht 12, Amsterdam
Registration: Please send an email, preferably before Tuesday 17 April, 12.00 hrs. to register.
A sandwich will then be provided.

Abstract

The recent financial crisis led to major losses among many pension funds across Europe, indicating the problems in shifting responsibility to private actors. Furthermore, the crisis highlights the problematic nature of funded private pensions that fall short of expected returns. Particularly those pension systems that are weakly regulated and where financial risks of funded pensions are shifted onto individuals demand attention. Indeed, the impact of the financial crisis on pension funds and future retirement income depends on the governance and regulation by state and non-state actors. However, there is a large cross-national variation in pension fund capitalism and its regulation across Europe. The paper asks how different governance systems reacted to the crisis. It reviews the cross-national differences in governance modes of supplementary pensions, the scope for collective or state regulation, and the adaptations in financing mechanisms, investment regulation and supervisory control. By studying western European pension systems, the paper compares the variety of supplementary pensions and analyzes their vulnerability to the financial crisis. There are multiple implications for individuals, sponsoring firms, pension funds, the social partners and the state.

The presenter:

Prof. Dr. Bernhard Ebbinghaus
Mannheim Centre for European Social Research
University of Mannheim
D-68131 Mannheim, Germany
Email: ebbinghaus@uni-mannheim.de

Click here for an overview of all lunch seminars from January – July 2012

 
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