Should Europeans fear the Privatisation of pensions?
Authors: Hyde, M., Barton, A., Farrar, S. and Moizer, J.
Journal: Journal of Comparative Social Welfare
Volume: 28
Issue: 2
Pages: 129-138
eISSN: 1748-684X
ISSN: 1748-6831
DOI: 10.1080/17486831.2012.655983
Abstract:Many Europeans fear proposals to privatise their public pension arrangements. They believe that privatisation is necessarily informed by the classical liberal free market model, which, if imported to Europe, would prove to be incompatible with social cohesion and distributive justice. In endorsing privatisation, this article responds to these fears in two ways. First we examine several of the arguments upon which public pensions are premised, and find that they are flawed. Second, drawing upon our own extensive research, we find that several features of mandated private pensions can be compatible with the requirements of the public interest, defined in terms of collectivist values. Provided that they are appropriately designed and regulated, mandated private pensions are a viable alternative to publicly administered retirement income protection. In view of these arguments, Europeans should not fear all privatisation. © 2012 Copyright Taylor and Francis Group, LLC.
Source: Scopus