EUROPEAN PAPERS ON THE NEW WELFARE

Author Archive

Pensions, Social Security and Private Insurance Solutions: Opportunities Squandered

1. Introduction

Modern societies are trying to develop concepts that allow them to protect their citizens and at the same time stay competitive in the globalized markets. The approach of the new welfare state is no longer to arrange for full coverage of (ideally) all risks but to replace the existing extraordinarily expensive systems with more targeted and efficient approaches. They achieve this through requiring people to assume more risks individually and to organise adequate protection themselves. This is the so-called ‘risk shift from public to private’, a concept we have been developing for a number of years at The Geneva Association1.
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From Bismarck’s Pension Trap to the New Silver Workers of Tomorrow: Reflections on the German Pension Problem

1. Introduction

The modern world, for all the great advances in most parts of our lives, has created a surprising conundrum: Bismarck’s pension trap. A system to provide old-age security based on an inadequate if not increasingly meaningless measure, the chronological age of the person. Which, to make matters worse, has been kept constant for more than 100 years.
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Pension Economics and the Four Pillars: Success in a Never-Ending Challenge

1. Introduction

Pensions economics is a complex field to work in, not least because of the many dimensions it covers beyond the already complex economic questions, particularly in the social and political sphere. The question as to how best (whatever this might mean in the discussion in question — and there has been a lot of confusion in the past over the target definitions) set up, finance and organize old-age security has been with us in its modern form for about a century, since Bismarck’s landmark introduction of the German social security schemes at the end of the 19th century.
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