In recent years in Finland, the extension of working life and the future sustainability of public-sector finances have been topics of extensive discussion. The EU Commission has encouraged Finland to consider linking the retirement age to the extending life expectancy. After the 2005 pension reform, changes in life expectancy were taken into account in the form of a life expectancy coefficient that regulates pension levels.

Using data from a stated preferences experiment in the Netherlands, we find that replacing full-time pension schemes with schemes that offer gradual retirement opportunities induce workers to retire one year later on average.

The largest gender gap in pensions are to be found in the Netherlands, where the difference between male and female pensions is almost 50 per cent. The gender imbalance is the smallest in Estonia. Finland is in the middle category compared to other Member States.

Using data from a stated preferences experiment in the Netherlands, we find that replacing fulltime pension schemes with schemes that offer gradual retirement opportunities induce workers to retire one year later on average. Total life-time labour supply, however, decreases with 3.4 months because the positive effect of delayed retirement on labour supply is cancelled out by the reduction in working hours before full retirement.

Many pension plans in the Netherlands guarantee that the (nominal) benefits will never decrease. The benefits can increase if the financial position of the fund allows, according to the so-called conditional indexation rule.

China is becoming an ageing society. The social security system in urban China aims to protect the standard living of the elderly. However, the actuarial model predicts that the gender gap in pension benefits will tend to enlarge over the coming decades.

Pensjonsforum ønsker alle medlemmer en riktig god jul og et godt nytt år. Vi ser frem til å kunne invitere til ny møter med spennende og dagsaktuelle temaer på pensjonsfeltet på nyåret.

Across the world, pension systems and their reforms are in a constant state of flux driven by shifting objectives, moving reform needs, and a changing enabling environment.