Pension System Reforms in the European Union: A Comparative Analysis of Strategies for Financial Sustainability

Abstract

This thesis provides a comprehensive comparative analysis of pension system reforms across the European Union, focusing on the strategies implemented to ensure the financial sustainability of these systems. With the aging population and changing labor market dynamics posing significant challenges, EU member states have undertaken various reforms to address these issues. The study examines different reform approaches, including adjustments to retirement age, shifts from defined benefit to defined contribution schemes, and the introduction of multi-pillar systems. By analyzing the outcomes of these strategies, the research identifies best practices and provides insights into the effectiveness of different approaches in maintaining the long-term viability of pension systems. The findings offer valuable guidance for policymakers aiming to balance the need for adequate retirement income with the financial constraints faced by modern economies.