Multiple Hidden Risks for Older People: The Looming Pension Crisis Following this Pandemic

Journal of European Social Policy (JESP) Blog, 04/30/2020, by Bernhard Ebbinghaus, bit.ly/3f3ABRR
  • Every fourth person in Europe receives an old age, survivor or disability pension benefit, an automatic stabilizer during this crisis
  • Public pay-as-you go pension will soon come under severe pressure due to fiscal pressures accelerated during this pandemic
  • Private funded pensions with their additional risks, were hit hard after the 2008 crash and will again increase inequalities in old age in coming years
  • Older people transitioning from work to retirement will face immediate difficulties that need to be addressed