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Centre for Policy on Ageing | |
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Occupational pensions in Europe
— Trojan horse of financialization? | | Author(s) | David Natali |
| Journal title | Social Policy and Administration, vol 52, no 2, March 2018 |
| Publisher | Wiley, March 2018 |
| Pages | pp 449-462 |
| Source | http://wileyonlinelibrary.com/journal/spol |
| Keywords | Private pensions ; Retirement policy ; Public finances ; Social economics ; Comparison ; Italy ; Netherlands ; United Kingdom. |
| Annotation | This article aims to answer two questions. First, has the recent evolution of occupational pensions (OPs) contributed to the financialisation of pension policy? Second, is the nexus between OPs and financialisation the result of the increased influence of financial markets in the pension field, or of a more complex interaction of state, market and social actors? By comparing Italy, the Netherlands and the United Kingdom, the article shows financialisation is a broad process that affects the three countries, but it has followed three different paths. In Italy, financialisation is spreading through individual pension schemes rather than OPs. The Dutch collective OPs are still a central part of the pension systems, but are increasingly influenced by the financial markets. In the UK, employer-led OPs are in the hands of the financial services industry. This proves that financialisation is a powerful trend, but has to deal with domestic socioeconomic institutions (a country's political economies and pensions institutions) that shape strategies and reforms. Financial actors have an increased role in pension politics, but are involved in complex interactions with the state, employers and trade unions. (RH). |
| Accession Number | CPA-180309208 A |
| Classmark | JK: G5: WN5: W4: 48: 76V: 76H: 8 |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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