Public Pension Generosity and Old-Age Poverty in OECD countries
Bibliographic Data
| ID | 2116276 |
|---|---|
| Authors | Kati Kuitto (0000-0002-2706-9951, Finnish Centre for Pensions), Joan Eliel Madia (0000-0001-8398-8859, University of Oxford, corresponding author), Federico Podestà (0000-0003-0307-8041) |
| Year | 2023 |
| Volume | 52 |
| Issue | 2 |
| Pages | 256-275 |
| Publication date | 2023-04-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Journal of Social Policy (JOURNAL) |
| Journal identifiers | ISSN: 0047-2794 • E-ISSN: 1469-7823 |
| Publisher | Cambridge University Press (CUP) (PUBLISHER) |
| DOI | 10.1017/s0047279421000544 |
| OpenAlex | W3177907209 |
| Language | EN |
| Citations received | 22 |
| References cited | 40 |
Pension adequacy is gaining importance as old-age poverty remains a pressing problem. In many advanced welfare states, the population is ageing rapidly and recent pension reforms have led to cuts in public pension provision. There are, however, few comparative longitudinal studies on the relationship between pension generosity and old-age poverty. This study provides a comparative empirical assessment of how the prevalence and depth of old-age poverty relates to generosity of public pension benefits in 14 advanced OECD welfare states from 1980-2010. We focus on the role of mandatory public pension provision of mainly first tier schemes that grant the major share of retirees' income in most countries. We use data on theoretical pension replacement rates for retirees who had different working-age incomes. In order to address endogeneity issues, we adopt an instrumental-variable approach. Our main finding shows that pensions systems and earnings-related schemes, in particular, are quite efficient in reducing the risk of old-age poverty. Yet they still do very little to alleviate poverty among those pensioners in the most disadvantaged situations. We also found that redistribution within the pension system does not substantially contribute to poverty alleviation
Demographic economics · Development economics · Disadvantaged · Earnings · Economic growth · Economics · Endogeneity · Generosity · Labour economics · Pension · Political science · Population · Poverty · Welfare · Welfare state · Financial Literacy, Pension, Retirement Analysis · Global Health Care Issues · Medicine · Retirement, Disability, and Employment
Double jeopardy
Social Protection in Developing Countries
What drives people to work in retirement? The role of work–family trajectories, finances, health, and welfare state generosity in bridge employment across Europe
Changes in Household Wealth Over the Process of Widowhood Across European Countries
The spillover effects of formal social support on vulnerability to poverty among rural older adult households
The Role of Pension Transfers in Reducing Older Adults' Poverty In Türkiye
How pension system contributes to community participation in China
Material, Health, and Social Vulnerability and Loneliness Among Older Adults
Pension reform and equality
Pensions, policy drift and old-age poverty in Western Europe and North America
Varying effects of public pensions
Poverty Among Elderly in Indonesia
Generosity of old‐age pensions for the self‐employed—A typology of European welfare states
How do OECD countries differ in population ageing and the situation of people aged 65 and older? Evidence using cluster analysis
On the progressivity of public pension systems
Is there a trade‐off between housing and pension system generosity? Empirical evidence from the Luxembourg Wealth Study
Means-Tested welfare policies and the quiet fear of poverty amongst older people
Addressing social risks of older people with care needs
What it means to be poor
Community, solidarity, and poverty in mountain regions
The Dynamics of Poverty Among Türkiye’s Aging
An Analysis of the Antecedents of Poverty Among Households Headed by Older People in South Africa
The Varieties of Pension Governance
Poverty in old age
Labour Market Flexibility and Pension Reforms
The Oxford Handbook of the Welfare State
The Politics of Pension Reform
Unequal Ageing in Europe
Age in the Welfare State
Routledge International Handbook of Poverty
Inequality
Using Heteroscedasticity to Identify and Estimate Mismeasured and Endogenous Regressor Models
The Privatization and Marketization of Pensions in Europe
Pension policy in EU25 and its impact on pension benefits
Employment Histories and Pension Incomes in Europe
The Really Big Trade‐Off” between Home Ownership and Welfare
Welfare-state decommodification in 18 OECD countries
Incidence and Intensity of Smoothed Income Poverty in European Countries
Use of public health and social care services among the elderly in Finland
Evaluating the Possible Impact of Pension Reforms on Elderly Poverty in E urope
Inequalities and poverty risks in old age across Europe
Public/Private Pension Mix, Income Inequality and Poverty among the Elderly in Europe
Recent pension reforms in Europe
Reference Groups and Pensioners’ Subjective Economic Well-Being in Europe
The implications of demographic and economic projections on public pension spending in the European Union
The three worlds of welfare capitalism
Earnings Inequality and Welfare Spending
What To Do (and Not to Do) with Time-Series Cross-Section Data
The Paradox of Redistribution and Strategies of Equality
The Welfare State and Relative Poverty in Rich Western Democracies, 1967-1997
Do Social-Welfare Policies Reduce Poverty? A Cross-National Assessment
The Social Creation of Poverty and Dependency in Old Age
| Unique citing works | 22 |
|---|---|
| Citations per year | 7,33 |
| Citation span | 2023 - 2026 (4) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 21 |